June 23, 2022 07:17 GMT
- EURHUF ticks higher this morning after finding a local low at 393.90 yesterday, surging back above the 396 level.
- Momentum on the pair remains bullish with HUF being the most exposed EM FX to the geopolitical uncertainty.
- ST Resistance to watch on the topside stands at 400, followed by 402.90.
- On the downside, support to watch below 393.90 stands at 390.
- The NBH decided to leave its 1W depo rate steady at 7.25% this morning after surprising the market with a 50bps hike last week.
- Economic data also showed that unemployment rate declined to 3.5% in May, down from 3.6% the previous month.