USD/HUF may rise 159 - 233 pips

Our pivot point stands at 363.52.

Our preference

The upside prevails as long as 363.52 is support.

Alternative scenario

The downside breakout of 363.52 would call for 362.27 and 361.53.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 363.93 and 364). Finally, the USD/HUF has crossed above its upper Bollinger band (364.80).

Supports and resistances

368.72 **

367.97 *

367.23 **

366.49

364.90 last

364.01

363.52 **

362.27 *

361.53 **

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