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USDHUF Breaks Below Its 50DMA Support

HUNGARY
  • EURHUF has been consolidating sharply this week, falling below its 365 support and gradually approaching its 100DMA (360.40); next level to watch on the downside stands at 357.70 (200DMA). On the topside, first resistance to watch now stands at 365.70 (50DMA).
  • USDHUF has also been consolidating lower, breaking below the 50DMA yesterday and gradually approaching the 320 level. On the topside, first resistance stands at 325, followed by 328.
  • Hungary 10Y yield has been consolidating sharply in the past week amid growing inflation concerns, breaking above the 4.65% level yesterday. Key support to watch on the topside stands at 5%. On the downside, first support to watch stands at 4.50%.

Source: Bloomberg/MNI

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