USD/CZK may rise 97 - 139 pips

22.591 is our pivot point.

Our preference

Rebound towards 22.794.

Alternative scenario

The downside breakout of 22.591 would call for 22.520 and 22.478.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (22.654) but under its 50 period moving average (22.700).

Supports and resistances

22.879 **

22.837 *

22.794 **

22.752

22.655 last

22.619

22.591 **

22.520 *

22.478 **

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