EUR/CZK may fall 40 - 58 pips

Our pivot point stands at 25.349.

Our preference

The downside prevails as long as 25.349 is resistance.

Alternative scenario

The upside breakout of 25.349, would call for 25.379 and 25.398.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 25.344 and 25.348).

Supports and resistances

25.398 **

25.379 *

25.349 **

25.337

25.313 last

25.273

25.255 **

25.237 *

25.219 **

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