USD/HUF may rise to 378.72 - 383.88

Our pivot point stands at 359.92.

Our preference

The upside prevails as long as 359.92 is support.

Alternative scenario

The downside breakout of 359.92 would call for 351.30 and 346.16.

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 359.94 and 357.69).

Supports and resistances

394.19 **

389.03 *

383.88 **

378.72

366.87 last

363.31

359.92 **

351.30 *

346.16 **

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