EUR/HUF may rise 83 - 123 pips

Our pivot point is at 400.10.

Our preference

As long as 400.10 is support look for 402.16.

Alternative scenario

Below 400.10, expect 399.44 and 399.04.

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 (400.96) but above its 50 period moving average (400.77).

Supports and resistances

402.94 **

402.55 *

402.16 **

401.76

400.93 last

400.36

400.10 **

399.44 *

399.04 **

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