EUR/CZK may fall 98 - 122 pips

Our pivot point is at 25.247.

Our preference

The downside prevails as long as 25.247 is resistance.

Alternative scenario

Above 25.247, look for 25.288 and 25.313.

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 25.238 and 25.246). Finally, the EUR/CZK is trading below its lower Bollinger band (standing at 25.217).

Supports and resistances

25.313 **

25.288 *

25.247 **

25.230

25.208 last

25.110

25.086 **

25.061 *

25.036 **

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