EUR/HUF may rise 90 - 135 pips

393.07 is our pivot point.

Our preference

The upside prevails as long as 393.07 is support.

Alternative scenario

The downside breakout of 393.07 would call for 392.31 and 391.86.

Comment

The RSI is above 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 393.08 and 392.74).

Supports and resistances

395.93 **

395.47 *

395.02 **

394.57

393.67 last

393.37

393.07 **

392.31 *

391.86 **

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