USD/CZK may rise 96 - 140 pips

23.068 is our pivot point.

Our preference

As long as 23.068 is support look for 23.285.

Alternative scenario

The downside breakout of 23.068 would call for 22.994 and 22.949.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (23.147) but above its 50 period moving average (23.141).

Supports and resistances

23.374 **

23.330 *

23.285 **

23.241

23.145 last

23.098

23.068 **

22.994 *

22.949 **

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