EUR/HUF may rise 88 - 131 pips

Our pivot point is at 401.56.

Our preference

As long as 401.56 is support look for 404.03.

Alternative scenario

Below 401.56, expect 400.84 and 400.41.

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 below its 20 period moving average (402.76) but above its 50 period moving average (402.47).

Supports and resistances

404.89 **

404.46 *

404.03 **

403.60

402.72 last

401.84

401.56 **

400.84 *

400.41 **

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