USD/CZK may fall 84 - 123 pips

Our pivot point stands at 23.130.

Our preference

The downside prevails as long as 23.130 is resistance.

Alternative scenario

The upside breakout of 23.130, would call for 23.196 and 23.235.

Comment

The RSI is below its neutrality area at 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 23.100 and 23.105).

Supports and resistances

23.235 **

23.196 *

23.130 **

23.105

23.065 last

22.981

22.942 **

22.903 *

22.864 **

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