EUR/HUF may rise 134 - 189 pips

Our pivot point stands at 393.18.

Our preference

The upside prevails as long as 393.18 is support.

Alternative scenario

Below 393.18, expect 392.26 and 391.71.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 392.90 and 393.12). Finally, the EUR/HUF is trading above its upper Bollinger band (standing at 393.81).

Supports and resistances

396.90 **

396.35 *

395.80 **

395.25

393.91 last

393.55

393.18 **

392.26 *

391.71 **

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