EUR/CZK may rise 74 - 99 pips

Our pivot point stands at 24.979.

Our preference

Our next up target stands at 25.173.

Alternative scenario

The downside breakout of 24.979 would call for 24.937 and 24.913.

Comment

The RSI is above 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 both its 20 and 50 period moving average (respectively at 25.067 and 25.073).

Supports and resistances

25.223 **

25.198 *

25.173 **

25.148

25.074 last

24.996

24.979 **

24.937 *

24.913 **

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