USD/HUF may rise 169 - 252 pips

Our pivot point is at 365.04.

Our preference

The upside prevails as long as 365.04 is support.

Alternative scenario

The downside breakout of 365.04 would call for 363.65 and 362.82.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 364.99 and 365.44). Finally, the USD/HUF has crossed above its upper Bollinger band (366.13).

Supports and resistances

370.78 **

369.95 *

369.13 **

368.30

366.61 last

365.58

365.04 **

363.65 *

362.82 **

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