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HUFJPY Testing Its 61.8% Fibo Resistance

HUNGARY
  • USDHUF has been retracing lower in the past two days after finding resistance at its 100DMA (317.35) on Monday; ST support to watch on the downside stands at 310, followed by 306.85 (200DMA). On the topside, next resistance to watch above 317.35 stands at 318.50 (50DMA).
  • EURHUF ticks higher this morning after finding support at 353.20 earlier; ST resistance to watch on the topside stands at 355, followed by 357.20 (200DMA). On the downside, support to watch stands at 352.40.
  • GBPHUF ticks higher this morning, currently trading slightly above the 422 level; key resistance to watch on the topside stands at 428.50 (100DMA). On the downside, ST support stands at 420 (200DMA).
  • PLNHUF has been retracing higher this week, currently testing its 50DMA at 78.97; a break above that level would open the door for a move up to 79.53. On the downside, first support stands at 78.79 (100DMA), followed by 78.18 (200DMA).
  • CZKHUF has been trading with a tight 10-pip range in the past week (14.50 – 14.60); ST resistance to watch on the topside stands at 14.6270 (50DMA). On the downside, support to watch below 14.50 stands at 14.4450 (100DMA).
  • HUFJPY has been trending higher in the past two days after rejecting its 200DMA support (36.55) on Monday. The pair is currently testing its 37.14 resistance, which corresponds to the 61.8% Fibo retracement of the 34.55 – 38.73 range. Next resistance to watch on the topside stands at 37.63. On the downside support to watch stands at 36.55. (scale*100, chart below).

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