EUR/CZK may rise 50 - 72 pips

Our pivot point stands at 25.106.

Our preference

The upside prevails as long as 25.106 is support.

Alternative scenario

The downside breakout of 25.106 would call for 25.068 and 25.046.

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 trading above both its 20 and 50 period moving average (respectively at 25.135 and 25.139). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 25.172).

Supports and resistances

25.294 **

25.271 *

25.248 **

25.226

25.176 last

25.121

25.106 **

25.068 *

25.046 **

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