USD/HUF may rise to 374.09 - 378.75

Our pivot point is at 356.14.

Our preference

Our next up target stands at 378.75.

Alternative scenario

The downside breakout of 356.14 would call for 348.36 and 343.73.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 361.18 and 362.70).

Supports and resistances

388.07 **

383.41 *

378.75 **

374.09

363.78 last

359.19

356.14 **

348.36 *

343.73 **

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