EUR/HUF has pulled back after challenging the 200-DMA near 399/402. A break below would open up more losses toward 372, then 367, analysts at Société Générale report.
399/402 must be overcome to affirm an extended bounce
“The 200-DMA around 399/402 remains a crucial resistance zone and must be overcome to affirm an extended bounce.”
“The pair is drifting towards interim support of 379, the 76.4% retracement from the low formed earlier this month. Failure to defend could mean a deeper down move towards 372 and perhaps even towards the lower limit of a multi-month channel at 367.”
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