USD/HUF may rise to 381.74 - 388.42

Our pivot point is at 357.83.

Our preference

The upside prevails as long as 357.83 is support.

Alternative scenario

The downside breakout of 357.83 would call for 346.66 and 340.02.

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 trading above both its 20 and 50 period moving average (respectively at 364.55 and 362.47).

Supports and resistances

401.78 **

395.10 *

388.42 **

381.74

367.73 last

362.22

357.83 **

346.66 *

340.02 **

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