Free Trial

Technical Analysis: EURHUF Fails To Break 61.8% Fibo Resistance

HUNGARY
  • USDHUF ticks lower this morning after finding a high at 306.50 yesterday; next level to watch on the topside stands at 310. On the downside, first support stands at 302.50, followed by 300.
  • GBPHUF consolidates lower this morning and is currently trading slightly below its 420 resistance; resistance to watch on the topside stands at 422.40, followed by 426.30. On the downside, first support to watch stands at 415.10 (100DMA).
  • HUFJPY has been retracing higher in the past few days after receiving strong support at its 200DMA on Tuesday; resistance to watch on the topside stands at 36.51, followed by 37.53 (50DMA). On the downside, ST support to watch below 200DMA stands at 35. (scale*100).
  • CZKHUF has been trading around 14 in the past few days after consolidating sharply lower on Monday; support to watch on the downside stands at 13.92, followed by 13.87. On the topside, first resistance stands at 14.10, followed by 14.15, which represents the pair's all time high.
  • HUFPLN ticks lower this morning after finding a high at 78.68 earlier; resistance to watch on the topside stands at 79, followed by 79.15 (200DMA). On the downside, first support stands at 77.90, followed by 77.55.
  • EURHUF consolidated lower this morning after failing to break through its 360 resistance several times this week, which corresponds to the 61.8% Fibo retracement of the 345.20 – 369.20 range; ST support to watch on the downside stands at 358.60 (200DMA), followed by 357.10 (100DMA). On the topside, first resistance to watch above 360 stands at 362, followed by 363.50 (76.4% Fibo).

Source: Bloomberg/MNI

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.