USD/CZK may fall 83 - 121 pips

Our pivot point stands at 23.493.

Our preference

Under pressure below 23.493.

Alternative scenario

Above 23.493, look for 23.557 and 23.596.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.429 and 23.426).

Supports and resistances

23.596 **

23.557 *

23.493 **

23.468

23.400 last

23.317

23.279 **

23.240 *

23.202 **

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