USD/HUF may rise 157 - 224 pips

Our pivot point stands at 362.89.

Our preference

The upside prevails as long as 362.89 is support.

Alternative scenario

The downside breakout of 362.89 would call for 361.77 and 361.10.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 363.36 and 363).

Supports and resistances

367.54 **

366.87 *

366.20 **

365.53

363.96 last

363.34

362.89 **

361.77 *

361.10 **

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