USD/CZK may fall 87 - 129 pips

Our pivot point is at 23.235.

Our preference

Target 23.035.

Alternative scenario

The upside breakout of 23.235, would call for 23.307 and 23.349.

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 below its 20 period moving average (23.182) but above its 50 period moving average (23.155).

Supports and resistances

23.349 **

23.307 *

23.235 **

23.207

23.164 last

23.077

23.035 **

22.992 *

22.950 **

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