USD/CZK may rise 75 - 110 pips

23.442 is our pivot point.

Our preference

The upside prevails as long as 23.442 is support.

Alternative scenario

The downside breakout of 23.442 would call for 23.384 and 23.349.

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 23.479 and 23.484).

Supports and resistances

23.682 **

23.648 *

23.613 **

23.578

23.503 last

23.465

23.442 **

23.384 *

23.349 **

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