EUR/HUF may rise 112 - 162 pips

Our pivot point stands at 393.23.

Our preference

As long as 393.23 is support look for 395.65.

Alternative scenario

The downside breakout of 393.23 would call for 392.38 and 391.88.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 393.97 and 393.86).

Supports and resistances

396.65 **

396.15 *

395.65 **

395.15

394.03 last

393.56

393.23 **

392.38 *

391.88 **

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