USD/CZK may fall 83 - 122 pips

Our pivot point stands at 23.122.

Our preference

The downside prevails as long as 23.122 is resistance.

Alternative scenario

The upside breakout of 23.122, would call for 23.188 and 23.227.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.092 and 23.113).

Supports and resistances

23.227 **

23.188 *

23.122 **

23.096

23.055 last

22.972

22.933 **

22.894 *

22.855 **

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