USD/CZK may fall 103 - 147 pips

Our pivot point stands at 23.183.

Our preference

The downside prevails as long as 23.183 is resistance.

Alternative scenario

The upside breakout of 23.183, would call for 23.258 and 23.302.

Comment

The RSI is below its neutrality area at 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 23.151 and 23.160).

Supports and resistances

23.302 **

23.258 *

23.183 **

23.154

23.124 last

23.021

22.977 **

22.933 *

22.888 **

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