USDHUF Daily Forecast Apr 01 2014

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    The USDHUF continued its bearish momentum yesterday, topped at the 224.60 levels, bottomed at the 222.18 levels. Now the pressure will be on the key support 222.18…

    The USDHUF will have to hold below the 222.18 levels on a daily closing basis to push the market to further downside losses, If seen It will target the 220.90 levels where a breach will turn the focus on the 218.80 levels, further downside will aim the 217.00 levels.

    Alternatively, a failure to hold below the 222.18 levels on a daily basis, could mean a return to the 223.60 levels, a break would open main resistance at the 224.60 levels, a halt is strongly suggested, but break of the 224.60 levels on a daily basis would open 227.54 next , this level is likely to provide strong resistance , but If 227.54 is taken out , expect the pair to strengthen further towards the 228.50/229.50 levels , further upside will aim the 231.00/232.70 levels…

    In all , as long as resistance 224.60 holds on a daily basis , the USDHUF will remain based tot he downside towards the 220.90 levels , break of 224.60 will reverse risks towards the 227.54 levels.

     

    USDHUF Daily Forecast Apr 01 2014

     

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