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HUF: EURHUF Unfazed by Rate Decision, Eyes on Central Bank Guidance

HUF
  • EURHUF (-0.05%) unchanged by the rate decision given a 25bp cut was the overwhelming consensus among analysts. Greater focus will be on whether the Bank signals the possibility of another rate cut before year-end.
  • As a reminder, the policy statement will be released at 14:00BST/15:00CET, at which time the post-decision press conference will begin.
  • For EURHUF, familiar technical levels remain in play, with initial support at 394.04, the 50-day EMA. A clear break would set sights on key near-term support at 391.93, the Aug 21 low. On the upside, a stronger reversal higher would instead refocus attention on key resistance at 399.21, the Aug 5 high.

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