11 Feb 2015
EUR/HUF back from 310.70
FXStreet (Edinburgh) - The Hungarian forint is losing ground vs. the common currency on Wednesday, with EUR/HUF now deflating to the 310.00 neighbourhood.
EUR/HUF stronger post-CPI
The pair clinched session highs in the 310.65/70 area after consumer prices in the Hungarian economy rose at a monthly pace of 0.7% and contracted 1.4% on a year to January, down from December’s 0.9% and -0.9%, respectively.
The cross is advancing for the third consecutive session so far, after bottoming out in ytd lows around 305.50 posted last week.
EUR/HUF relevant levels
The cross is now up 0.38% at 309.98 and a surpass of 310.30 (100-d MA) would expose 310.76 (high Feb.10) and then 312.51 (daily cloud base). On the other hand the immediate support lies at 305.60 (low Feb.6) ahead of 305.25 (low Dec.9) and finally 304.00 (low Nov.21).
EUR/HUF stronger post-CPI
The pair clinched session highs in the 310.65/70 area after consumer prices in the Hungarian economy rose at a monthly pace of 0.7% and contracted 1.4% on a year to January, down from December’s 0.9% and -0.9%, respectively.
The cross is advancing for the third consecutive session so far, after bottoming out in ytd lows around 305.50 posted last week.
EUR/HUF relevant levels
The cross is now up 0.38% at 309.98 and a surpass of 310.30 (100-d MA) would expose 310.76 (high Feb.10) and then 312.51 (daily cloud base). On the other hand the immediate support lies at 305.60 (low Feb.6) ahead of 305.25 (low Dec.9) and finally 304.00 (low Nov.21).