USD/CZK may rise 78 - 116 pips

22.991 is our pivot point.

Our preference

The upside prevails as long as 22.991 is support.

Alternative scenario

Below 22.991, expect 22.928 and 22.890.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 23.022 and 23.023). Finally, the USD/CZK has crossed above its upper Bollinger band (23.059).

Supports and resistances

23.259 **

23.221 *

23.183 **

23.145

23.067 last

23.016

22.991 **

22.928 *

22.890 **

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