USD/HUF may rise 165 - 243 pips

351.85 is our pivot point.

Our preference

The upside prevails as long as 351.85 is support.

Alternative scenario

The downside breakout of 351.85 would call for 350.53 and 349.75.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 351.81 and 352.40). Finally, the USD/HUF is trading above its upper Bollinger band (standing at 352.99).

Supports and resistances

357.24 **

356.46 *

355.67 **

354.89

353.24 last

352.36

351.85 **

350.53 *

349.75 **

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