EUR/CZK may rise 40 - 60 pips

Our pivot point stands at 24.949.

Our preference

Our next up target stands at 25.082.

Alternative scenario

Below 24.949, expect 24.916 and 24.896.

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 24.996 and 25.004). Finally, the EUR/CZK is trading above its upper Bollinger band (standing at 25.013).

Supports and resistances

25.121 **

25.101 *

25.082 **

25.062

25.022 last

24.962

24.949 **

24.916 *

24.896 **

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