EUR/HUF may rise 114 - 167 pips

Our pivot point stands at 383.93.

Our preference

The upside prevails as long as 383.93 is support.

Alternative scenario

Below 383.93, expect 383.03 and 382.50.

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 trading above both its 20 and 50 period moving average (respectively at 384.38 and 384.11). Finally, the EUR/HUF has crossed above its upper Bollinger band (384.93).

Supports and resistances

387.68 **

387.14 *

386.61 **

386.08

384.94 last

384.28

383.93 **

383.03 *

382.50 **

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