Australian Dollar/Hungarian Forint discussion
AUDHUF Idea:Living room in an old castle |… Living room in an old castle | (7) fx study room
AUDHUF Trend: BearishSupport levels: 224.21 HUF, 214.15 HUF, 194.12 HUF
Resistance levels: 233.08 HUF, 242.10 HUF, 251.12 HUF
Prognosis: The AUDHUF pair is in a strong bearish trend and is expected to continue to decline in the next trading week. The pair is currently trading below its key support level of 224.21 HUF and is likely to test the next support level of 214.15 HUF in the coming days. If the pair breaks below 214.15 HUF, it could fall to 194.12 HUF in the medium term.
Sentiment: The sentiment for the AUDHUF pair is bearish. The pair has been in a downtrend for several weeks and is likely to continue to decline in the near future.
Justification: The AUDHUF pair is being weighed down by a number of factors, including the weak Australian economy and the strong Hungarian forint. The Australian economy is struggling to grow and is facing a number of challenges, including high inflation and rising interest rates. The Hungarian forint, on the other hand, has been one of the strongest performing currencies in the world in recent months, supported by the central bank's hawkish monetary policy stance.
Bearish prediction: The AUDHUF pair is likely to fall to 214.15 HUF in the next trading week and could fall to 194.12 HUF in the medium term.
