USD/HUF may rise 130 - 189 pips

Our pivot point is at 353.76.

Our preference

The upside prevails as long as 353.76 is support.

Alternative scenario

The downside breakout of 353.76 would call for 352.77 and 352.18.

Comment

The RSI is above 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 354.33 and 353.65).

Supports and resistances

357.93 **

357.34 *

356.75 **

356.16

354.86 last

354.15

353.76 **

352.77 *

352.18 **

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