EUR/CZK may rise 61 - 86 pips

Our pivot point is at 25.263.

Our preference

The upside prevails as long as 25.263 is support.

Alternative scenario

Below 25.263, expect 25.220 and 25.195.

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 25.259 and 25.245). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 25.312).

Supports and resistances

25.482 **

25.456 *

25.430 **

25.405

25.344 last

25.280

25.263 **

25.220 *

25.195 **

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