USD/CZK may fall 101 - 145 pips

Our pivot point stands at 23.237.

Our preference

The downside prevails as long as 23.237 is resistance.

Alternative scenario

The upside breakout of 23.237, would call for 23.311 and 23.356.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.170 and 23.160).

Supports and resistances

23.356 **

23.311 *

23.237 **

23.208

23.152 last

23.051

23.007 **

22.963 *

22.919 **

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