EUR/HUF is staging a tentative rebound after defending key trendline help close to 398. Nevertheless, the 200-DMA and higher band of its latest vary at 405 stay a essential take a look at. A failure to clear this barrier may set off one other leg decrease towards the March low at 395, Société Générale’s FX analysts observe.
Rebound in EUR/HUF faces key resistance zone
“EUR/HUF has just lately defended the ascending pattern line drawn since 2023 close to 398, which is an interim help. A quick rebound is taking form after this take a look at. Higher a part of latest vary and the 200-DMA at 405 is a vital hurdle.”
“It is going to be fascinating to see if the pair can set up above this resistance. Incapability to cross this might denote a danger of yet one more down leg. Break under 398 could result in extension in decline in the direction of the March low of 395.”
