EUR/HUF may rise to 407.21 - 410.33

Our pivot point stands at 396.05.

Our preference

The upside prevails as long as 396.05 is support.

Alternative scenario

The downside breakout of 396.05 would call for 390.83 and 387.73.

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 trading above both its 20 and 50 period moving average (respectively at 397.73 and 395.49).

Supports and resistances

416.55 **

413.44 *

410.33 **

407.21

400.30 last

398.10

396.05 **

390.83 *

387.73 **

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