USD/CZK may rise 103 - 144 pips

Our pivot point is at 22.442.

Our preference

Look for a drop towards 22.442 before a bounce.

Alternative scenario

Below 22.442, expect 22.373 and 22.331.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 22.500 and 22.504).

Supports and resistances

22.733 **

22.692 *

22.650 **

22.609

22.506 last

22.470

22.442 **

22.373 *

22.331 **

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