EUR/CZK may fall 100 - 125 pips

Our pivot point stands at 25.401.

Our preference

Under pressure below 25.401.

Alternative scenario

The upside breakout of 25.401, would call for 25.443 and 25.469.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 25.378 and 25.375).

Supports and resistances

25.469 **

25.443 *

25.401 **

25.384

25.365 last

25.265

25.240 **

25.214 *

25.189 **

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