EUR/HUF may rise 99 - 144 pips

Our pivot point is at 391.43.

Our preference

The upside prevails as long as 391.43 is support.

Alternative scenario

The downside breakout of 391.43 would call for 390.67 and 390.22.

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 above its 20 and 50 period moving average (respectively at 390.96 and 390.46).

Supports and resistances

394.88 **

394.43 *

393.97 **

393.52

392.53 last

391.73

391.43 **

390.67 *

390.22 **

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