USD/HUF is trading at 311.28 (-0.19%), holding above both the 20-day (309.14) and 50-day (307.44) SMAs, confirming the short-term uptrend remains intact. The pair is currently mid-channel within an ascending 20-day dynamic regression channel, with immediate dynamic support at 309.78 (-149.9 pips) and resistance at 317.70 (+642.0 pips). The 50-day channel shows a flatter trajectory, suggesting potential consolidation ahead, though the ascending 20-day channel slope maintains bullish bias near-term.

Static levels show S1 at 310.27 (-100.3 pips) as the nearest support, while R1 at 314.60 (+331.5 pips) looms overhead. The RSI at 58.4 sits neutrally, neither overbought nor oversold, leaving room for further upside if momentum builds. Today’s range (310.84–312.58) has held tight relative to the 14-day ATR of 3.76, indicating subdued volatility this session.

The key test for bulls will be a break above the European session high of 312.58 (+129.5 pips), which would open a path toward R1. Failure to hold above the 20-day SMA (309.14) could trigger a deeper pullback toward the 50-day dynamic support at 298.58 (-1270.3 pips), though this appears unlikely without a fundamental catalyst. Watch for Hungarian inflation data due Thursday—any deviation from expectations could break the current technical stalemate. Until then, range-bound trading between 310.27–314.60 seems probable.