EUR/HUF may rise 90 - 135 pips

388.88 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 388.88, expect 388.12 and 387.67.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (389.54) but under its 50 period moving average (389.81).

Supports and resistances

391.95 **

391.50 *

391.05 **

390.60

389.70 last

389.17

388.88 **

388.12 *

387.67 **

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