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Forex: EUR/HUF in fresh highs above 305.00

The Hungarian forint is resuming its depreciation against the shared currency on Thursday, hovering over session highs in the area of 305.40/50 despite the industrial production in Hungary contracted 1.4% YoY in January, improving from December’s decline of 7.1%.

As of writing, the cross is up 0.24% at 305.38 facing the next hurdle at 307.67 (high Jun.1 2012) ahead of 313.48 (high Jan.13 2012) and then 316.10 (high Jan.9 2012).
On the other hand, a breach of 303.40 (Upper Bollinger) would clear the way to 298.35 (MA14d) and then 294.10 (low Mar.1).

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