EUR/HUF muted on NBH decision

By FXStreet FXStreet (Edinburgh) – The Hungarian forint kept the composure vs. the euro following the NBH interest rate decision today, with EUR/HUF hovering over the mid-310.00s so far.

EUR/HUF indifferent post-NBH

The cross remained within the daily range after the Hungarian central bank (NBH) kept its monetary policy intact at its meeting today, leaving the repo rate at 1.35%, matching previous estimates.

In the meantime, the cross seems to have found some support around the 310.00 area, looking to consolidate the drop from recent peaks in the vicinity of 318.00 during August.

EUR/HUF key levels

As of writing the cross is up 0.10% at 310.69 with the immediate up barrier at 311.83 (high Sep.21) followed by 313.08 (high Sep.17) and then 314.71 (high Sep.14). On the other hand, a breach of 309.45 (low Sep.22) would open the door to 309.04 (low Sep.21) and finally 308.01 (low Aug.18).
For more information, read our latest forex news. …read more

Source:: FX Street