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HUF: EUR/HUF Tests 389.00, Reaches Multi-Week Low

HUF
  • EUR/HUF has extended lower in recent trade and is now at its lowest level since June 7. Downside momentum for the cross accelerated through last week’s low of 389.50, resulting in a test of the 389.00 handle. 
  • Support at 388.88, the 61.8% retracement of the May 28 – Jun 14 bull-leg, is also within close proximity. The 76.4% retracement level of the same bull-leg is marked at 386.53.
     

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