EUR/CZK may fall to 24.649 - 24.805

Our pivot point stands at 25.403.

Our preference

Target 24.649.

Alternative scenario

Above 25.403, look for 25.666 and 25.822.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (25.283) but above its 50 period moving average (25.083).

Supports and resistances

25.822 **

25.666 *

25.403 **

25.300

25.192 last

24.805

24.649 **

24.493 *

24.337 **

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