EUR/HUF may rise 111 - 160 pips

392.38 is our pivot point.

Our preference

The upside prevails as long as 392.38 is support.

Alternative scenario

Below 392.38, expect 391.56 and 391.07.

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 392.71 and 393.03).

Supports and resistances

395.73 **

395.24 *

394.75 **

394.26

393.15 last

392.70

392.38 **

391.56 *

391.07 **

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