USD/CZK may rise 84 - 122 pips

Our pivot point is at 22.803.

Our preference

The upside prevails as long as 22.803 is support.

Alternative scenario

The downside breakout of 22.803 would call for 22.740 and 22.702.

Comment

The RSI is above its neutrality area at 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 22.826 and 22.819).

Supports and resistances

23.060 **

23.023 *

22.986 **

22.948

22.864 last

22.827

22.803 **

22.740 *

22.702 **

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