USD/HUF may rise 162 - 237 pips

Our pivot point is at 368.37.

Our preference

As long as 368.37 is support look for 371.90.

Alternative scenario

Below 368.37, expect 367.12 and 366.37.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 369.29 and 368.60).

Supports and resistances

373.39 **

372.64 *

371.90 **

371.15

369.53 last

368.86

368.37 **

367.12 *

366.37 **

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