USD/HUF may rise 205 - 301 pips

Our pivot point is at 367.76.

Our preference

The upside prevails as long as 367.76 is support.

Alternative scenario

The downside breakout of 367.76 would call for 366.14 and 365.18.

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 368.77 and 368.51).

Supports and resistances

374.26 **

373.29 *

372.33 **

371.37

369.32 last

368.39

367.76 **

366.14 *

365.18 **

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