USD/CZK may rise 76 - 110 pips

Our pivot point stands at 23.402.

Our preference

As long as 23.402 is support look for 23.567.

Alternative scenario

Below 23.402, expect 23.344 and 23.309.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (23.460) but above its 50 period moving average (23.454).

Supports and resistances

23.637 **

23.602 *

23.567 **

23.533

23.457 last

23.425

23.402 **

23.344 *

23.309 **

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