EUR/CZK may rise to 25.757 - 25.939

Our pivot point stands at 25.083.

Our preference

The upside prevails as long as 25.083 is support.

Alternative scenario

Below 25.083, expect 24.778 and 24.596.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 25.101 and 24.864).

Supports and resistances

26.303 **

26.121 *

25.939 **

25.757

25.372 last

25.203

25.083 **

24.778 *

24.596 **

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