USD/CZK may rise 109 - 156 pips

Our pivot point stands at 23.167.

Our preference

Our next up target stands at 23.395.

Alternative scenario

Below 23.167, expect 23.088 and 23.041.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.218 and 23.236).

Supports and resistances

23.489 **

23.442 *

23.395 **

23.348

23.239 last

23.198

23.167 **

23.088 *

23.041 **

Number of asterisks represents the strength of support and resistance levels.