EUR/CZK may rise 48 - 70 pips

Our pivot point stands at 25.110.

Our preference

The upside prevails as long as 25.110 is support.

Alternative scenario

Below 25.110, expect 25.072 and 25.050.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 25.168 and 25.164). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 25.191).

Supports and resistances

25.312 **

25.290 *

25.267 **

25.245

25.197 last

25.125

25.110 **

25.072 *

25.050 **

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