EUR/CZK may rise 46 - 69 pips

24.679 is our pivot point.

Our preference

As long as 24.679 is support look for 24.831.

Alternative scenario

The downside breakout of 24.679 would call for 24.642 and 24.620.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 24.735 and 24.723). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 24.758).

Supports and resistances

24.876 **

24.853 *

24.831 **

24.808

24.762 last

24.694

24.679 **

24.642 *

24.620 **

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