USD/CZK may rise 96 - 133 pips

Our pivot point is at 22.756.

Our preference

Rebound towards 22.939.

Alternative scenario

The downside breakout of 22.756 would call for 22.693 and 22.656.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 22.815 and 22.872).

Supports and resistances

23.014 **

22.977 *

22.939 **

22.902

22.806 last

22.780

22.756 **

22.693 *

22.656 **

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