EUR/HUF may rise 104 - 150 pips

Our pivot point stands at 395.68.

Our preference

The upside prevails as long as 395.68 is support.

Alternative scenario

The downside breakout of 395.68 would call for 394.91 and 394.46.

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 395.97 and 395.87). Finally, the EUR/HUF has crossed above its upper Bollinger band (396.49).

Supports and resistances

398.93 **

398.47 *

398.02 **

397.56

396.52 last

395.98

395.68 **

394.91 *

394.46 **

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