EUR/CZK may fall 63 - 89 pips

Our pivot point is at 25.370.

Our preference

The downside prevails as long as 25.370 is resistance.

Alternative scenario

Above 25.370, look for 25.413 and 25.438.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 25.345 and 25.351). Finally, the EUR/CZK is trading below its lower Bollinger band (standing at 25.327).

Supports and resistances

25.438 **

25.413 *

25.370 **

25.353

25.324 last

25.261

25.235 **

25.210 *

25.184 **

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