USD/CZK may fall 113 - 159 pips

Our pivot point is at 23.340.

Our preference

The downside prevails as long as 23.340 is resistance.

Alternative scenario

Above 23.340, look for 23.418 and 23.465.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.312 and 23.324). Finally, the USD/CZK is trading below its lower Bollinger band (standing at 23.273).

Supports and resistances

23.465 **

23.418 *

23.340 **

23.309

23.265 last

23.152

23.106 **

23.059 *

23.013 **

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