USD/CZK may fall 102 - 147 pips

Our pivot point is at 23.119.

Our preference

The downside prevails as long as 23.119 is resistance.

Alternative scenario

The upside breakout of 23.119, would call for 23.193 and 23.238.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.076 and 23.088).

Supports and resistances

23.238 **

23.193 *

23.119 **

23.090

23.048 last

22.946

22.901 **

22.857 *

22.813 **

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