USD/CZK may rise 92 - 131 pips

Our pivot point stands at 22.475.

Our preference

Our next up target stands at 22.680.

Alternative scenario

The downside breakout of 22.475 would call for 22.408 and 22.369.

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 above its 20 and 50 period moving average (respectively at 22.535 and 22.537).

Supports and resistances

22.759 **

22.720 *

22.680 **

22.641

22.549 last

22.501

22.475 **

22.408 *

22.369 **

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