EUR/HUF may rise 102 - 149 pips

Our pivot point stands at 394.41.

Our preference

Rebound towards 396.60.

Alternative scenario

The downside breakout of 394.41 would call for 393.63 and 393.16.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (395.03) but under its 50 period moving average (395.28).

Supports and resistances

397.53 **

397.06 *

396.60 **

396.13

395.11 last

394.71

394.41 **

393.63 *

393.16 **

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