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HUF: EURHUF Continues to Eye Key 400 Level

HUF

Higher US yields on Thursday and the associated greenback strength are keeping the Hungarian Forint on the backfoot, in line with the broad pressure on EM FX. HUF is among the worst performers within the EMEA region so far today, and EURHUF is hovering just below yesterday’s highs at 397.21, with the dust settling post the NBH meeting this week.

  • Familiar technical levels remain in play and key focus will be on 399.75 resistance, the Mar 12 high. A break of this level would place the cross at its highest level since March 2023. Initial firm support moves up to 392.63, the 20-day EMA.
  • PLNHUF and CZKHUF trade 0.45% and 0.50% higher, respectively, with the former close to the early April high of 92.18. USDHUF has recovered around 1% from this week’s lows, with a sustained move higher potentially exposing the YTD high of 373.63.
     
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