USD/HUF may rise 168 - 228 pips

358.53 is our pivot point.

Our preference

The upside prevails as long as 358.53 is support.

Alternative scenario

The downside breakout of 358.53 would call for 357.53 and 356.93.

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 358.91 and 358.81).

Supports and resistances

362.94 **

362.34 *

361.74 **

361.14

359.46 last

358.93

358.53 **

357.53 *

356.93 **

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