EUR/CZK may fall 98 - 122 pips

25.277 is our pivot point.

Our preference

The downside prevails as long as 25.277 is resistance.

Alternative scenario

The upside breakout of 25.277, would call for 25.318 and 25.343.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 25.249 and 25.258).

Supports and resistances

25.343 **

25.318 *

25.277 **

25.260

25.232 last

25.134

25.110 **

25.085 *

25.060 **

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