USD/HUF may rise to 377.36 - 383.09

Our pivot point is at 356.67.

Our preference

The upside prevails as long as 356.67 is support.

Alternative scenario

Below 356.67, expect 347.09 and 341.39.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 357.74 and 361.52). Finally, the USD/HUF is trading above its upper Bollinger band (standing at 364.77).

Supports and resistances

394.55 **

388.82 *

383.09 **

377.36

365.75 last

360.44

356.67 **

347.09 *

341.39 **

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