USD/CZK may fall 90 - 132 pips

Our pivot point stands at 22.452.

Our preference

The downside prevails as long as 22.452 is resistance.

Alternative scenario

The upside breakout of 22.452, would call for 22.521 and 22.563.

Comment

The RSI is below 50. 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 22.413 and 22.408).

Supports and resistances

22.563 **

22.521 *

22.452 **

22.425

22.390 last

22.300

22.258 **

22.217 *

22.176 **

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