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The Hungarian central bank will announce...>

EURO-HUF
EURO-HUF: The Hungarian central bank will announce its policy rate decision at
1200GMT today. All 19 economists in a Bloomberg survey expect rates to remain on
hold at 0.90%.
- Danske expect the MNB will again leave the rate unchanged at 0.90% despite
core inflation climbing to the upper bound of the central bank target on brisk
economic growth and double-digit wage expansion. However, it may implement
another hike of the overnight depo rate and further cuts in FX swaps as a tool
for liquidity tightening. 
- EURHUF backed away from last week's highs with the downtrend extending to
Huf325.11 yesterday. Rate currently rests on channel base support (Huf325.58)
with further support located at Huf323.29 which represents the 50% retracement
of Huf319.08-327.50. Below here opens the May 6 low at Huf322.33, ahead of the
200-dma at Huf321.58. Double top-resistance is seen at Huf327.45/50, with a
break here needed to challenge the Sep 6 2018 high at Huf328.43.
- On a technical basis traders are reminded of the recent golden cross formation
(50-dma above 200-dma). 

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