EUR/HUF tests 405 hurdle after trendline rebound – Société Générale
|EUR/HUF is staging a tentative rebound after defending key trendline support near 398. However, the 200-DMA and upper band of its recent range at 405 remain a critical test. A failure to clear this barrier could trigger another leg lower toward the March low at 395, Société Générale's FX analysts note.
Rebound in EUR/HUF faces key resistance zone
"EUR/HUF has recently defended the ascending trend line drawn since 2023 near 398, which is an interim support. A brief rebound is taking shape after this test. Upper part of recent range and the 200-DMA at 405 is an important hurdle."
"It will be interesting to see if the pair can establish above this resistance. Inability to cross this could denote a risk of one more down leg. Break below 398 may lead to extension in decline towards the March low of 395."
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