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EURHUF Breaks Below 380.00, PLNHUF Tests 20-DMA Again

HUF
The forint has extended this week’s gains, up 0.25% against the euro at typing. EURHUF broke through 380.00 to record a low of 378.34 through the NY crossover – falling just shy of key support at 378.22, the Dec 14 low. Below here, attention will be on the late November low of 376.75.
  • The local currency, alongside that of its central-European counterparts, had already been exhibiting resilience to greenback strength from earlier in the week, with today’s record-high domestic trade surplus figures likely providing additional upside momentum to the HUF.
  • PLNHUF pierced the 50-DMA again today, though has since returned back above that average. A close above here would be the first since October 2023. CZKHUF is down 0.23% on the day and approaching the mid-November lows at 15.3069. A break of this level would place the cross at its lowest since May 2022.

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