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EUR/HUF unchanged after MNB decision

FXStreet (Edinburgh) - The Hungarian forint kept the composure on Tuesday, taking the EUR/HUF around the 311.00 handle post-MNB decision.

EUR/HUF find support around 310.50

After dipping to the area of 310.50, the cross is now attempting a recovery towards the 311.00 level while investors wait for the monetary policy statement due later. Recall that the MNB (Hungarian Central Bank) left the repo rate unchanged at 2.1% in today’s monetary policy meeting, broadly in line with market expectations.

EUR/HUF key levels

At the moment the cross is down 0.43% at 311.08 with the immediate support at 310.28 (low Sep.23) ahead of 310.25 (daily cloud base). On the upside, a breakout of 312.60 (55-d MA) would expose 313.50 (high Sep.18).

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