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EURHUF Edges Lower Following Yesterday's Retracement

HUNGARY
  • EURHUF consolidated from its key resistance at 370 in the beginning of January to a local low of 351 yesterday after breaking below its 355.40 support on Wednesday (61.8% Fibo retracement 345.10 – 372 range). First resistance to watch on the topside now stands at 355.40, followed by 357.60 (200DMA). On the downside, support to watch stands at 350.
  • USDHUF ticks lower this morning after finding resistance at the 310 level; key support to watch on the downside stands at 305.10 (200DMA). On the topside, first resistance to watch above 310 stands at 313.80 (100DMA).

Source: Bloomberg

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