EUR/HUF may rise 94 - 139 pips

Our pivot point stands at 394.77.

Our preference

The upside prevails as long as 394.77 is support.

Alternative scenario

The downside breakout of 394.77 would call for 394.01 and 393.55.

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 395.16 and 394.91).

Supports and resistances

397.81 **

397.35 *

396.90 **

396.45

395.51 last

395.07

394.77 **

394.01 *

393.55 **

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