EUR/HUF unchanged after steady NBH

The Hungarian Forint is trading on a firmer fashion vs. its European peer on Tuesday, sending EUR/HUF to the 308.00 neighbourhood for the time being.

EUR/HUF in red post-NBH

The cross remained apathetic after the Hungarian central bank left the base rate unchanged at 0.90% at today’s meeting, matching initial estimates.

Today stronger HUF is prompting the cross to post weekly losses for the first time after two consecutive advances, including a rebound from the vicinity of the 302.50 area seen in early October - levels last seen in May 2015.

EUR/HUF relevant levels

At the moment the cross is losing 0.18% at 307.95 facing the next support at 306.66 (20-day sma) followed by 302.81 (2016 low Oct.7) and finally 295.28 (low Apr.14 2015). On the other hand, a surpass of 310.27 (high Sep.30) would expose 310.81 (100-day sma) and then 311.44 (200-day sma).