USD/HUF may rise 180 - 254 pips

Our pivot point stands at 365.54.

Our preference

As long as 365.54 is support look for 369.15.

Alternative scenario

Below 365.54, expect 364.30 and 363.56.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (366.79) but above its 50 period moving average (366.07).

Supports and resistances

370.64 **

369.90 *

369.15 **

368.41

366.61 last

366.03

365.54 **

364.30 *

363.56 **

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