Forex: EUR/HUF in session highs after Hungary data

The Hungarian forint is markedly depreciating against the single currency on Thursday, after the domestic economic activity shrank 2.7% on a yearly basis during the last quarter of 2012, and the CPI rose 3.7% YoY in January, below the 5% previous. Core CPI also increased 3.7%, below December’s 4.9%.

At the moment, the pair is up 0.86% at 292.48 facing the next hurdle at 293.15 (MA21d) ahead of 300.00 (2013 high Jan.28) and then 307.65 (high Jun.1).
On the flip side, a breakdown of the psychological level at 290.00 would clear the way to 288.70 (low Feb.13) and then 287.65 (low 2013 Jan.13).