USD/HUF is trading at 326.78 (+0.43%), testing the upper bounds of its short-term bullish channel as the pair continues to ride above both the 20-day (322.31) and 50-day (317.02) SMAs. The ascending 20-day dynamic channel (support at 324.71, 206.5 pips below) confirms the uptrend, with resistance looming at 335.66 (887.8 pips above). The 50-day channel mirrors this structure, with support at 317.92 (886.4 pips below) and resistance at 332.01 (522.7 pips above). Static levels show immediate support at S1 (325.30, 148 pips below) and resistance at R1 (327.63, 85 pips above), though the more consequential pivot cluster sits at 332.94 (756.6 pips away), where previous rejections occurred.

RSI at 63.0 suggests neutral momentum, leaving room for further upside before overbought conditions emerge. The pair’s ability to hold above the 20-day dynamic support (324.71) during today’s dip reinforces bullish bias, but traders should watch for a break above 327.63 (R1) to confirm continuation. Failure to breach this level could see a retest of 325.30 (S1). The broader uptrend remains intact unless the 50-day dynamic support (317.92) breaks, which would require a -2.29% drop. Near-term catalysts include the ECB’s rate decision this Thursday—any dovish tilt could amplify HUF weakness given the MNB’s recent pause. Until then, the path of least resistance favors testing 332.94.