USD/CZK may rise 84 - 121 pips

Our pivot point stands at 22.673.

Our preference

As long as 22.673 is support look for 22.856.

Alternative scenario

The downside breakout of 22.673 would call for 22.612 and 22.575.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 22.721 and 22.699).

Supports and resistances

22.929 **

22.892 *

22.856 **

22.819

22.735 last

22.697

22.673 **

22.612 *

22.575 **

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