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Forex: EUR/HUF in session lows, below 290.00

By FXstreet.com,  January 09, 2013, 07:45:00 AM EDT

FXstreet.com (Barcelona) - The Hungarian forint is sharply appreciating against the euro on Wednesday, after the trade surplus in the Hungarian economy widened to €703.8 million during November from €657.6 million previous. The increasing buying pressure in HUF plus the generalized weakness surrounding the euro have dragged the pair from today's tops around 292.00 to the actual region in sub 290.00 levels.

EUR/HUF is now losing 0.64% at 289.92 with the next support levels aligning at 287.75 (MA21d) en route to 286.55 (MA200d) and finally 284.40 (low Dec.21).
On the flip side, a break out of 295.35 (high Dec.26) would lead to the psychological level at 300.00 and then 307.65 (high Jun.1).




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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