USD/HUF may rise 171 - 231 pips

358.96 is our pivot point.

Our preference

The upside prevails as long as 358.96 is support.

Alternative scenario

The downside breakout of 358.96 would call for 357.95 and 357.36.

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 above its 20 and 50 period moving average (respectively at 359.67 and 359.38).

Supports and resistances

363.41 **

362.81 *

362.21 **

361.61

359.90 last

359.36

358.96 **

357.95 *

357.36 **

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