EUR/CZK may fall 88 - 114 pips

Our pivot point stands at 25.261.

Our preference

The downside prevails as long as 25.261 is resistance.

Alternative scenario

The upside breakout of 25.261, would call for 25.305 and 25.331.

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 25.242 and 25.247).

Supports and resistances

25.331 **

25.305 *

25.261 **

25.244

25.208 last

25.120

25.094 **

25.068 *

25.042 **

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