EUR/HUF may rise 167 - 213 pips

Our pivot point is at 396.88.

Our preference

As long as 396.88 is support look for 399.94.

Alternative scenario

The downside breakout of 396.88 would call for 396.11 and 395.66.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 397.81 and 397.31).

Supports and resistances

400.85 **

400.40 *

399.94 **

399.48

397.81 last

397.18

396.88 **

396.11 *

395.66 **

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