EUR/HUF may rise 189 - 252 pips

Our pivot point is at 394.66.

Our preference

The upside prevails as long as 394.66 is support.

Alternative scenario

Below 394.66, expect 393.62 and 393.00.

Comment

The RSI is above its neutrality area at 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 394.23 and 394.51).

Supports and resistances

399.37 **

398.75 *

398.13 **

397.50

395.61 last

395.07

394.66 **

393.62 *

393.00 **

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