FXstreet.com (Barcelona) - The Hungarian forint is losing ground against the single currency on Friday after the preliminary trade surplus in Hungary during April has narrowed to €396.3 million from €635.9 million in the prior month. Exports amounted €6.106 million while imports reached €5.709 million.
Amid shrinking risk appetite, the pair is trading at the moment between the 50% and the 38.2% Fibo Retracements of the impressive rally sparked in early may, climbing from the proximities of 282.00 to as high as 307.72
EUR/HUF is advancing 0.35% at 296.63 with the next resistance at 299.40 followed by 301.80 then 303.25 and 305.30
On the downside, a breach of 293.30 would open the door to 291.20 then 289.25 and 286.90
Amid shrinking risk appetite, the pair is trading at the moment between the 50% and the 38.2% Fibo Retracements of the impressive rally sparked in early may, climbing from the proximities of 282.00 to as high as 307.72
EUR/HUF is advancing 0.35% at 296.63 with the next resistance at 299.40 followed by 301.80 then 303.25 and 305.30
On the downside, a breach of 293.30 would open the door to 291.20 then 289.25 and 286.90
