USD/HUF may rise 174 - 249 pips

366.73 is our pivot point.

Our preference

The upside prevails as long as 366.73 is support.

Alternative scenario

The downside breakout of 366.73 would call for 365.48 and 364.74.

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 367.44 and 367.23).

Supports and resistances

371.85 **

371.10 *

370.36 **

369.61

367.87 last

367.22

366.73 **

365.48 *

364.74 **

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