USD/CZK may rise 76 - 114 pips

Our pivot point is at 23.316.

Our preference

The upside prevails as long as 23.316 is support.

Alternative scenario

The downside breakout of 23.316 would call for 23.252 and 23.214.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.355 and 23.373). Finally, the USD/CZK has crossed above its upper Bollinger band (23.381).

Supports and resistances

23.572 **

23.534 *

23.496 **

23.458

23.382 last

23.341

23.316 **

23.252 *

23.214 **

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