EUR/HUF may rise 145 - 199 pips

Our pivot point stands at 387.27.

Our preference

The upside prevails as long as 387.27 is support.

Alternative scenario

The downside breakout of 387.27 would call for 386.37 and 385.83.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 387.97 and 387.44).

Supports and resistances

391.42 **

390.88 *

390.35 **

389.81

388.36 last

387.63

387.27 **

386.37 *

385.83 **

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