EUR/CZK may fall 48 - 67 pips

Our pivot point is at 25.322.

Our preference

The downside prevails as long as 25.322 is resistance.

Alternative scenario

The upside breakout of 25.322, would call for 25.353 and 25.371.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 25.330 and 25.336). Finally, the EUR/CZK is trading below its lower Bollinger band (standing at 25.300).

Supports and resistances

25.371 **

25.353 *

25.322 **

25.310

25.297 last

25.249

25.230 **

25.212 *

25.194 **

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