USD/CZK may rise 127 - 174 pips

23.377 is our pivot point.

Our preference

The upside prevails as long as 23.377 is support.

Alternative scenario

Below 23.377, expect 23.298 and 23.252.

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 above its 20 and 50 period moving average (respectively at 23.369 and 23.351). Finally, the USD/CZK has crossed above its upper Bollinger band (23.450).

Supports and resistances

23.732 **

23.685 *

23.638 **

23.591

23.464 last

23.408

23.377 **

23.298 *

23.252 **

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