USD/CZK may fall 101 - 148 pips

23.469 is our pivot point.

Our preference

The downside prevails as long as 23.469 is resistance.

Alternative scenario

Above 23.469, look for 23.548 and 23.594.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.417 and 23.428). Finally, the USD/CZK has penetrated its lower Bollinger band (23.389).

Supports and resistances

23.594 **

23.548 *

23.469 **

23.438

23.383 last

23.282

23.235 **

23.188 *

23.141 **

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