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Selling Pressure on HUF Remains Elevated

HUNGARY
  • USDHUF has been retracing higher in the past few days and is currently trading at the high of its 3-day range; ST resistance to watch stands at 327.44, followed by 330. On the downside, first support stands at 322.70 (see chart).
  • EURHUF has also been trending higher this morning and is currently trading slightly below its ST resistance at 368.50; key resistance to watch on the topside stands at 370. On the downside, first support stands at 365, followed by 363.80 (50DMA).
  • Hungary 10Y yield has been retracing higher this week, currently trading slightly above the 4.50% level; next resistance to watch on the topside stands at 4.6470%. On the downside, first support stands at 4.18%, followed by 4.04% (50DMA).

Source: Bloomberg

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