EUR/CZK may rise 53 - 77 pips

Our pivot point is at 25.241.

Our preference

Rebound.

Alternative scenario

Below 25.241, expect 25.199 and 25.175.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (25.300) but below its 50 period moving average (25.337). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 25.318).

Supports and resistances

25.446 **

25.422 *

25.397 **

25.373

25.320 last

25.257

25.241 **

25.199 *

25.175 **

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