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26 Feb 2013
Forex: EUR/HUF little changed after MNB decision
The Hungarian forint stayed put around 294.60 after the MNB (Hungarian central bank) followed the broad consensus and cut the repo rate by 25 bps to a record low at 5.25%.
In the data space, the domestic unemployment rate ticked higher in the last three months ended in January to 11.2% from 10.7%.
At the moment, the pair is advancing 0.05% at 294.65 with the next resistance at 294.94 (high Feb.7) ahead of 300.00 (2013 high Jan.28) en route to 307.65 (high Jun.1 2012).
On the flip side, a violation of the psychological level at 290.00 would expose 288.70 (low Feb.13) and then 287.65 (2013 low Jan.13).
In the data space, the domestic unemployment rate ticked higher in the last three months ended in January to 11.2% from 10.7%.
At the moment, the pair is advancing 0.05% at 294.65 with the next resistance at 294.94 (high Feb.7) ahead of 300.00 (2013 high Jan.28) en route to 307.65 (high Jun.1 2012).
On the flip side, a violation of the psychological level at 290.00 would expose 288.70 (low Feb.13) and then 287.65 (2013 low Jan.13).