26 May 2015
EUR/HUF eased to 308.50 post-NBH
FXStreet (Edinburgh) - The Hungarian forint appreciated a tad vs. the euro on Tuesday, with EUR/HUF keeping the trade below the 309.00 handle.
EUR/HUF muted on NBH decision
The cross kept the composure after the Hungarian central bank lowered its benchmark rate to 1.65% from 1.80% at today’s meeting, matching consensus expectations.
The cross is trading in multi-day tops around the 309.00 mark, at shouting distance of month peaks near 309.30.
EUR/HUF levels to watch
At the moment the cross is up 0.33% at 309.04 with the next hurdle at 309.28 (high Mar.10) ahead of 309.54 (high May 18) and then 310.66 (high Feb.11). On the flip side, a breakdown of 307.04 (low May 25) would aim for 306.73 (low May 22) and finally 306.12 (low May 21).
EUR/HUF muted on NBH decision
The cross kept the composure after the Hungarian central bank lowered its benchmark rate to 1.65% from 1.80% at today’s meeting, matching consensus expectations.
The cross is trading in multi-day tops around the 309.00 mark, at shouting distance of month peaks near 309.30.
EUR/HUF levels to watch
At the moment the cross is up 0.33% at 309.04 with the next hurdle at 309.28 (high Mar.10) ahead of 309.54 (high May 18) and then 310.66 (high Feb.11). On the flip side, a breakdown of 307.04 (low May 25) would aim for 306.73 (low May 22) and finally 306.12 (low May 21).