USD/HUF may rise 145 - 213 pips

356.74 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 356.74, expect 355.59 and 354.91.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (357.65) but below its 50 period moving average (358.10). Finally, the USD/HUF is trading above its upper Bollinger band (standing at 358.04).

Supports and resistances

361.55 **

360.86 *

360.18 **

359.50

358.05 last

357.19

356.74 **

355.59 *

354.91 **

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