Free Trial

Bearish Techs Building on EUR/HUF; NBP Interventions Pushing Spot Higher

HUNGARY
  • EUR/HUF continues to trend higher, dragged along by NBP interventions.
  • Strong selling action at the close almost broke the uptrend, but buyers re-emerged this morning.
  • Bearish rising wedge pattern & negative RSI divergence coming through on shorter time-frames, building since 28 dec - suggesting we may see a pull back lower if spot fails to breach 365.42 topside resistance (Sept highs).
  • 363.24-362.63 support band holding below.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.