EUR/HUF may rise 150 - 200 pips

391.78 is our pivot point.

Our preference

The upside prevails as long as 391.78 is support.

Alternative scenario

The downside breakout of 391.78 would call for 390.94 and 390.44.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 392.40 and 392.41).

Supports and resistances

395.63 **

395.12 *

394.62 **

394.12

392.62 last

392.11

391.78 **

390.94 *

390.44 **

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