EUR/HUF may rise 133 - 179 pips

392.99 is our pivot point.

Our preference

The upside prevails as long as 392.99 is support.

Alternative scenario

The downside breakout of 392.99 would call for 392.22 and 391.75.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 393.42 and 392.96).

Supports and resistances

396.47 **

396.01 *

395.54 **

395.08

393.75 last

393.30

392.99 **

392.22 *

391.75 **

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