EUR/HUF may rise 129 - 175 pips

Our pivot point stands at 389.10.

Our preference

The upside prevails as long as 389.10 is support.

Alternative scenario

The downside breakout of 389.10 would call for 388.33 and 387.87.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 389.43 and 389.40).

Supports and resistances

392.56 **

392.11 *

391.65 **

391.19

389.90 last

389.40

389.10 **

388.33 *

387.87 **

Number of asterisks represents the strength of support and resistance levels.