USD/CZK may rise 111 - 157 pips

Our pivot point stands at 23.203.

Our preference

The upside prevails as long as 23.203 is support.

Alternative scenario

Below 23.203, expect 23.124 and 23.078.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 23.253 and 23.237).

Supports and resistances

23.523 **

23.476 *

23.429 **

23.383

23.272 last

23.233

23.203 **

23.124 *

23.078 **

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