USD/HUF may rise 196 - 256 pips

Our pivot point stands at 358.13.

Our preference

As long as 358.13 is support look for 361.72.

Alternative scenario

Below 358.13, expect 357.13 and 356.53.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (359.31) but above its 50 period moving average (358.27).

Supports and resistances

362.91 **

362.31 *

361.72 **

361.12

359.16 last

358.53

358.13 **

357.13 *

356.53 **

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