EUR/CZK may fall to 24.582 - 24.755

Our pivot point stands at 25.390.

Our preference

Target 24.582.

Alternative scenario

The upside breakout of 25.390, would call for 25.681 and 25.854.

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 (25.276) but above its 50 period moving average (25.034).

Supports and resistances

25.854 **

25.681 *

25.390 **

25.276

25.154 last

24.755

24.582 **

24.409 *

24.236 **

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