EUR/CZK may rise 58 - 83 pips

Our pivot point is at 25.288.

Our preference

The upside prevails as long as 25.288 is support.

Alternative scenario

The downside breakout of 25.288 would call for 25.245 and 25.220.

Comment

The RSI is above its neutrality area at 50. 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 25.337 and 25.342).

Supports and resistances

25.507 **

25.481 *

25.455 **

25.430

25.372 last

25.305

25.288 **

25.245 *

25.220 **

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