EUR/HUF: Support is seen at 348.44/09 – Commerzbank

EUR/HUF puts pressure on the 349.13 April trough and the 348.44/09 support area below which lies 340.59, per Commerzbank.

Key quotes

“EUR/HUF continues to show a downward bias and is seen retesting its April low at 349.13 below which sits the 348.44/09 support area, consisting of the March 20 and current May lows.”

“Further minor support comes into view around the previous February all-time highs at 340.59/38.” 

“Major resistance above the 358.86/359.59 mid-March and late April highs can be seen at the April peak at 369.53.”