EUR/CZK may rise 51 - 76 pips

Our pivot point stands at 25.403.

Our preference

The upside prevails as long as 25.403 is support.

Alternative scenario

The downside breakout of 25.403 would call for 25.362 and 25.337.

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 25.417 and 25.413).

Supports and resistances

25.569 **

25.545 *

25.520 **

25.495

25.444 last

25.420

25.403 **

25.362 *

25.337 **

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