USD/CZK may rise 137 - 177 pips

Our pivot point stands at 22.431.

Our preference

Rebound.

Alternative scenario

The downside breakout of 22.431 would call for 22.365 and 22.325.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (22.480) but under its 50 period moving average (22.502).

Supports and resistances

22.753 **

22.714 *

22.674 **

22.634

22.497 last

22.457

22.431 **

22.365 *

22.325 **

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