USD/HUF Holds Near Support Amid Eurozone Inflation Concerns
The US Dollar vs. Hungarian Forint (USD/HUF) pair is currently trading at 328.1925, showing a slight pullback during the session. Despite this minor dip, the pair remains above key moving averages, indicating sustained upward momentum.
ECB Governing Council member Joachim Nagel noted that eurozone inflation is still elevated at 3.8%, though there is no evidence of second-round wage effects. This assessment influences market expectations for monetary policy shifts, which in turn affects regional forex markets, including USD/HUF.
Technically, USD/HUF is trading above its MA-20 (328.0173) and MA-50 (327.6081) on the hourly chart, as well as above the MA-200 (317.1021) on the daily timeframe. The Ichimoku Kijun at 328.0018 serves as immediate support. Both the MACD and Awesome Oscillator suggest a buy bias, while the ADX and Stochastic RSI remain neutral.
For the next session, USD/HUF is expected to trade between 326.146 and 330.239, with a 70% probability of gains. The baseline scenario anticipates continued consolidation within this range, with a potential bullish extension if resistance is breached.