USD/HUF may rise 147 - 217 pips

Our pivot point stands at 369.72.

Our preference

As long as 369.72 is support look for 372.99.

Alternative scenario

The downside breakout of 369.72 would call for 368.54 and 367.84.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (370.98) but above its 50 period moving average (370.23).

Supports and resistances

374.39 **

373.69 *

372.99 **

372.29

370.82 last

370.19

369.72 **

368.54 *

367.84 **

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