EUR/HUF may rise 110 - 160 pips

Our pivot point is at 392.23.

Our preference

Rebound towards 394.75.

Alternative scenario

Below 392.23, expect 391.39 and 390.89.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 393.18 and 393.33).

Supports and resistances

395.75 **

395.25 *

394.75 **

394.25

393.15 last

392.56

392.23 **

391.39 *

390.89 **

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