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Momentum on EURHUF Remains Bullish

HUNGARY
BulletEM BulletEmerging MarketsCommodities
  • 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.

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  • 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.