Free Trial

HUNGARY: EURHUF Extends Moderate Recovery From Tuesday’s Lows

HUNGARY
  • EURHUF is trading moderately higher at the start of the session, up 0.13% at typing. Nevertheless, bearish technical conditions remain prevalent, supported by the recent shift of moving average studies into bear-mode position. Focus therefore remains on 382.34, the Feb 1 low, ahead of the 380.00 handle. Initial firm resistance lies some way off at 388.96, the 50-day EMA.
  • There are no data releases scheduled until the end of the week, when PPI and trade balance figures will cross. Meanwhile, Moody’s may update Hungary’s sovereign credit rating after hours on Friday (Current rating: Baa2; Outlook: stable).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.