Forex: EUR/HUF below 300.00 after MNB decision

FXstreet.com (Barcelona) - The Hungarian forint keeps the soft tone on Tuesday, after the central bank cut the repo rate for the ninth consecutive month by 25 bps to a new record low at 4.75%, broadly in line with market expectations. The central bank will release a statement at 1300GMT.

As of writing, the pair is up 0.13% at 299.48 with the next hurdle at 301.27 (MA30d) ahead of 308.55 (high Mar.18) and then 313.48 (high Jan.13).
On the flip side, a breakdown of 296.92 (MA10d) would expose 293.25 (low Apr.15) and finally 290.25 (low Feb.20).