EUR/CZK may rise 62 - 88 pips

Our pivot point is at 25.112.

Our preference

The upside prevails as long as 25.112 is support.

Alternative scenario

The downside breakout of 25.112 would call for 25.069 and 25.044.

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 25.173 and 25.166).

Supports and resistances

25.321 **

25.296 *

25.271 **

25.245

25.183 last

25.128

25.112 **

25.069 *

25.044 **

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