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HUFJPY Finds Resistance At 200DMA

HUNGARY
  • EURHUF ticks higher this morning after finding support at the 370 level; ST resistance to watch on the topside stands at 375.50. On the downside, support to watch stands at 364.80 (100DMA).
  • USDHUF ticks higher this morning after finding a local low at 335.30 yesterday; ST resistance to watch on the topside stands at 340, followed by 342.10. On the downside, support to watch stands below 335.30 stands at 333.40.
  • CZKHUF ticks higher this morning after finding support at 15; ST resistance to watch on the topside stands at 15.25. On the downside, support to watch below 15 stands at 14.76 (50DMA).
  • PLNHUF ticks lower this morning, currently testing its 100DMA at 78.95; next level to watch on the downside stands at 78.76 (50DMA). On the topside, resistance to watch stands at 79.67.
  • GBPHUF has been retracing higher in the past week after finding support at the 440 level, which previously acted as a strong resistance (before the February/March CEE FX selloff). Next level to watch on the topside stands at 450.50 (50% retracement of the 416.90 – 484.20 range). On the downside, support to watch below 440 stands at 435.70 (50DMA).
  • HUFJPY has been retracing sharply higher in the past two weeks and found resistance at its 200DMA (36.1270) earlier and currently trades back below 36. ST support to watch on the downside stands at 35.68 (50DMA). On the topside, resistance to watch above 36.1270 stands at 36.78. (scale*100, chart below).

Source: Bloomberg/MNI

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