EUR/HUF may rise to 404.21 - 407.66

Our pivot point is at 391.42.

Our preference

The upside prevails as long as 391.42 is support.

Alternative scenario

Below 391.42, expect 385.66 and 382.24.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 392.76 and 393.21).

Supports and resistances

414.54 **

411.10 *

407.66 **

404.21

396.85 last

393.69

391.42 **

385.66 *

382.24 **

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