USD/CZK may rise 84 - 123 pips

Our pivot point stands at 23.077.

Our preference

As long as 23.077 is support look for 23.273.

Alternative scenario

The downside breakout of 23.077 would call for 23.011 and 22.972.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.147 and 23.142).

Supports and resistances

23.351 **

23.312 *

23.273 **

23.234

23.150 last

23.103

23.077 **

23.011 *

22.972 **

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