EUR/HUF may rise 104 - 155 pips

Our pivot point is at 394.65.

Our preference

As long as 394.65 is support look for 397.05.

Alternative scenario

The downside breakout of 394.65 would call for 393.79 and 393.28.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 395.36 and 395.14).

Supports and resistances

398.07 **

397.56 *

397.05 **

396.54

395.50 last

394.98

394.65 **

393.79 *

393.28 **

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