The EURHUF maintained a bearish momentum last Friday. Topped at the 310.63 levels and bottomed at the 308.11 levels. This development leaves the pair targeting the 306.15 levels. A halt is likely, but losing the 306.15 levels would open 303.65 next, the further downside will aim the 301.00 levels.
On the upside, resistance at the 309.35 levels ahead of 310.63 (main). Break of this level on a daily basis will reverse risks towards the 313.20 levels, further upside will open the 315.35 levels.
In all, as long as resistance 310.63 holds on a daily closing basis, the EURHUF will remain biased on the downside towards the 306.15 levels ahead of the 303.65 levels, a break of 310.63 will reverse risks to the upside towards the 313.20/315.35 levels.
Note that stability below the 308.11 levels will keep pushing towards the 306.15/303.65 levels, above 308.11 would delay the bullish move for retesting the 309.35/310.63 levels before the next fall…