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Technical Analysis: GBPHUF Finds Support At 430 Level

HUNGARY
  • USDHUF ticks higher this morning after finding support at 312.60 yesterday; resistance to watch on the topside stands at 315, followed by 318.75. On the downside, first support stands at 311.80, followed by 310.
  • GBPHUF ticks higher this morning after receiving support at the 430 level; levels to watch on the topside stand at 433.80, followed by 435.40. On the downside, fist support to watch below 430 stands at 427.40.
  • HUFJPY ticks lower this morning after finding a local high at 36.40 yesterday; ST resistance to watch on the topside stands at 36.51 (200DMA), followed by 36.64 (50DMA). On the downside, first support stands at 36. (scale *100).
  • CZKHUF has been retracing lower in the past few days, currently testing the low of its 2-week range; next support to watch on the downside stands at 14.03. On the topside, first resistance stands at 14.20.
  • PLNHUF has been retracing lower in the past few days after finding a local high at 79.50 on Tuesday; support to watch on the downside stands at 78.37. On the topside, next resistance to watch above 79.50 stands at 80.
  • EURHUF consolidated sharply lower yesterday, breaking below the 365 level as technical indicators were showing that the pair was moderately to significantly 'oversold'. Next support to watch on the downside stands at 361.60, followed by 360. On the topside, first resistance stands now at 365, followed by resistance at 370. (chart below).

Source: Bloomberg/MNI

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