8 May 2015
EUR/HUF drops to lows on data
FXStreet (Edinburgh) - The Hungarian forint is gathering pace vs. the euro on Friday, dragging EUR/HUF to session lows in the 302.20 area.
EUR/HUF softer on data
The cross has broken below the prevailing consolidative pattern after consumer prices in the Hungarian economy contracted less than expected 0.3% on a monthly basis during April and rose 1.2% on a yearly basis, bettering the previous prints at -0.6% and 1.0%, respectively.
The cross is now trading in 3-day lows , correcting lower from mlti-week tops around 307.60 posted yesterday.
EUR/HUF relevant levels
At the moment the cross is retreating 0.26% at 302.59 with the next support at 301.23 (low May 5) followed by 302.24 (low Apr.29) and finally 299.97 (low Apr.28). On the upside, a break above 307.64 (high May 7) would expose 309.28 (high Mar.10) and then 310.74 (high Feb.10).
EUR/HUF softer on data
The cross has broken below the prevailing consolidative pattern after consumer prices in the Hungarian economy contracted less than expected 0.3% on a monthly basis during April and rose 1.2% on a yearly basis, bettering the previous prints at -0.6% and 1.0%, respectively.
The cross is now trading in 3-day lows , correcting lower from mlti-week tops around 307.60 posted yesterday.
EUR/HUF relevant levels
At the moment the cross is retreating 0.26% at 302.59 with the next support at 301.23 (low May 5) followed by 302.24 (low Apr.29) and finally 299.97 (low Apr.28). On the upside, a break above 307.64 (high May 7) would expose 309.28 (high Mar.10) and then 310.74 (high Feb.10).