EUR/HUF as is usual for all EUR pairs V USD is EUR pairs trade above USD. No different in EUR/HUF V USD/HUF. The current EUR/HUF price at 315.92 has bottom today at 314.37.
The next big break points below are 313.93, 311.73, 310.27 and 310.11. The upside target is located at 316.41. The big 17 year base for EUR/HUF was built on 300.00, 302.09 and 306.32. Current price is mildly overbought and in sell rally mode.
USD/HUF. From current 282.71, USD/HUF sits oversold from massive supports points below at 280.22, 279.76, 277.87 and 261.48. That’s the shortest term view. Longer term, the 2002 averages at 217.32, 232.10 and 243.98 are overbought.
The Forint like all EM pairs are fighting USD oversold short term V overbought EUR. What is seen is the USD V EUR struggles inside Forint’s prices as USD interest rates rises must direct any chance for trend moves. Price moves are ranges and very short term.
Brian Twomey, Inside the Currency Market, btwomey.com