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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.
HUNGARY
- USDHUF has been retracing higher in the past few days, currently trading slightly above the 285 level; resistances to watch on the topside stand at 290 and 295 (50D SMA). On the downside, first support to watch stands at 280.
- EURHUF has been retracing higher in the past few days after finding support slightly above the 345 level last week; ST resistances to watch on the topside stand at 350, followed by 355. On the downside, first support to watch below 345 stands at 343.
- HUFJPY has been consolidating lower this month following a sharp rally in May (RSI 14D was showing that the pair was significantly 'overbought' at the end of last month); first level to watch on the downside stands at 38. On the topside, first ST resistance stands at 39. (scale*100).
- CZKHUF has been finding support above the 13.55 level in the past week, which corresponds to the 38.2% Fibo retracement of the 12.58 – 14.15 range; next supports to watch below that stands at 13.50, followed by 13.36 (50% retracement). On the topside, first resistance stands at 13.70 (200D SMA), followed by 13.78 (23.6% Fibo).
- PLNHUF has been trading sideways in the past three weeks, oscillating between 77.40 and 78; resistances to watch on the topside (above 78) stand at 78.48 (50D SMA), followed by 79 (100D SMA). On the downside, first support stands at 77, followed by 76.60.
- GBPHUF has been finding support slightly above the 400 level in the past two weeks, which corresponds to the intersection of the 38.2% Fibo retracement of the 348-431 range and the LT upward trending support line; a break below that level would open the door for a move down to 390 (50% retracement). On the topside, first resistance stands at 407 (200D SMA), followed by 412 (23.6% Fibo and 50D SMA). (chart below).
Source: Bloomberg/MNI
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.
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