USD/CZK may rise 90 - 130 pips

Our pivot point is at 22.637.

Our preference

Rebound.

Alternative scenario

The downside breakout of 22.637 would call for 22.571 and 22.531.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (22.691) but under its 50 period moving average (22.716).

Supports and resistances

22.913 **

22.873 *

22.834 **

22.794

22.704 last

22.664

22.637 **

22.571 *

22.531 **

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