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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 continues to trade sideways between its 100D SMA and 50D SMA; the pair has been oscillating slightly below its 200D SMA at 300.80 this week. On the topside, next resistance to watch (after 303, 50D SMA) stands at 305; on the downside, first support to watch after 299 (100D SMA) stands at 295.
- GBPHUF has been retracing slightly lower in the past few days after failing to break through its 50D SMA last week. Next resistance to watch on the topside stands at 427.50; on the downside, first key support stands at 412 (100D SMA).
- PLNHUF has been retracing lower in the past two days after a strong momentum in April. The pair is now testing the psychological 79 support line; a break below that level would open the door for a move down to 78.50. On the topside, ST resistances to watch stand at 79.50 (100D SMA), followed by 79.70 (200D SMA).
- CZKHUF has also been retracing lower this week after find a local high at 14.11, gradually approaching its 50D SMA at 13.92; next support to watch on the downside stands at 13.84 (100D SMA). On the topside, key resistance stands at 14.15, which also represents the pair's all-time high.
- HUFJPY (with chart): the trend looks firm this week after HUFJPY found strong support at around its 50D SMA last week. First resistance to watch on the topside stands at 36.56 (April 12 high); a break through that level would open the door for a move up to 37. On the downside, supports to watch are 35.73 (50D SMA), followed by 35.49 (100D SMA) and 35.17 (200D SMA).
The LT chart on HUFJPY (below) also exhibits that the pair has shown a positive trend this year and the 36.60 resistance represents a important technical level – the 38.2% Fibo retracement of the 2018/2021 high low range – which was rejected twice in the past year (Aug 2020 and Apr 2021).
(Scale*100)
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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