USD/HUF may rise 194 - 275 pips

Our pivot point stands at 351.17.

Our preference

The upside prevails as long as 351.17 is support.

Alternative scenario

Below 351.17, expect 349.80 and 348.99.

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 trading above both its 20 and 50 period moving average (respectively at 351.80 and 351.95).

Supports and resistances

356.85 **

356.04 *

355.22 **

354.41

352.47 last

351.70

351.17 **

349.80 *

348.99 **

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