EUR/CZK may rise 50 - 75 pips

Our pivot point is at 25.014.

Our preference

Our next up target stands at 25.122.

Alternative scenario

Below 25.014, expect 24.972 and 24.947.

Comment

The RSI is above its neutrality area at 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 above its 20 and 50 period moving average (respectively at 25.030 and 25.043). Finally, the EUR/CZK has crossed above its upper Bollinger band (25.044).

Supports and resistances

25.171 **

25.146 *

25.122 **

25.097

25.047 last

25.030

25.014 **

24.972 *

24.947 **

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