EUR/HUF may rise 88 - 128 pips

Our pivot point stands at 399.00.

Our preference

The upside prevails as long as 399.00 is support.

Alternative scenario

The downside breakout of 399.00 would call for 398.34 and 397.95.

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 399.11 and 399.44).

Supports and resistances

401.74 **

401.35 *

400.96 **

400.56

399.68 last

399.26

399.00 **

398.34 *

397.95 **

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