EUR/HUF may rise 110 - 159 pips

397.16 is our pivot point.

Our preference

The upside prevails as long as 397.16 is support.

Alternative scenario

The downside breakout of 397.16 would call for 396.33 and 395.83.

Comment

The RSI is above its neutrality area at 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 397.68 and 397.64).

Supports and resistances

400.73 **

400.23 *

399.73 **

399.24

398.14 last

397.49

397.16 **

396.33 *

395.83 **

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