USD/HUF may rise 174 - 249 pips

Our pivot point stands at 368.81.

Our preference

The upside prevails as long as 368.81 is support.

Alternative scenario

Below 368.81, expect 367.56 and 366.81.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 369.52 and 369.06). Finally, the USD/HUF is trading above its upper Bollinger band (standing at 370.10).

Supports and resistances

374.11 **

373.36 *

372.62 **

371.87

370.13 last

369.31

368.81 **

367.56 *

366.81 **

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