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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.
HUNGARY
- EURHUF has been consolidating lower this week, currently testing the low of its MT upward trending channel.
- A break below that level would open the door for a move down to 393.
- Key support to watch on the downside stands at 390.
- On the topside, first resistance to watch stands at 400, followed by 402.90.
- With HUF trading close to all-time lows against the Euro and the USD, it is currently significantly ‘undervalued’ using either a fair value approach or historical ranges.
- For instance, our BEER FX model shows that HUF is currently trading 30% below its ‘fundamental’ value (vs. USD).
Source: Bloomberg/MNI
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.
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