EUR/HUF may rise 124 - 179 pips

Our pivot point is at 394.29.

Our preference

The upside prevails as long as 394.29 is support.

Alternative scenario

Below 394.29, expect 393.37 and 392.82.

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 394.78 and 394.57).

Supports and resistances

397.91 **

397.36 *

396.81 **

396.26

395.02 last

394.66

394.29 **

393.37 *

392.82 **

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