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Forex: EUR/HUF in session highs eyeing 292.00

By FXstreet.com,  January 02, 2013, 04:04:00 AM EDT

FXstreet.com (Barcelona) - The Hungarian forint continues its depreciation against the single currency on Wednesday after the manufacturing PMI of Hungary has retreated to 48.9 during December from 52.3 in the previous print. The cross has jumped more than one big figure from the vicinity of 290.50 to levels shy of 292.00 soon after the release.

At the moment EUR/HUF is up 0.15% at 291.70 with the next resistance at 295.35 (high Dec.26) followed by the psychological level at 300.00 and then 307.65 (high Jun.1).
On the downside, a break below 290.00 (prev. res turned sup) would bring 289.45 (MA10d) and then 286.60 (MA200d).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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