USD/CZK may fall to 21.528 - 21.813

22.819 is our pivot point.

Our preference

The downside prevails as long as 22.819 is resistance.

Alternative scenario

The upside breakout of 22.819, would call for 23.299 and 23.585.

Comment

The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 22.872 and 23.115).

Supports and resistances

23.585 **

23.299 *

22.819 **

22.630

22.397 last

21.813

21.528 **

21.243 *

20.957 **

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