USD/HUF may rise to 382.91 - 389.59

Our pivot point stands at 359.17.

Our preference

The upside prevails as long as 359.17 is support.

Alternative scenario

The downside breakout of 359.17 would call for 348.01 and 341.36.

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 361.19 and 362.38).

Supports and resistances

402.94 **

396.27 *

389.59 **

382.91

369.03 last

363.56

359.17 **

348.01 *

341.36 **

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