EUR/CZK may fall 58 - 80 pips

Our pivot point stands at 24.738.

Our preference

Target 24.628.

Alternative scenario

The upside breakout of 24.738, would call for 24.775 and 24.797.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (24.717) but above its 50 period moving average (24.703).

Supports and resistances

24.797 **

24.775 *

24.738 **

24.723

24.708 last

24.650

24.628 **

24.607 *

24.585 **

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