EUR/CZK may fall 74 - 93 pips

25.312 is our pivot point.

Our preference

The downside prevails as long as 25.312 is resistance.

Alternative scenario

The upside breakout of 25.312, would call for 25.342 and 25.360.

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 25.296 and 25.292). Finally, the EUR/CZK is trading below its lower Bollinger band (standing at 25.274).

Supports and resistances

25.360 **

25.342 *

25.312 **

25.300

25.269 last

25.195

25.176 **

25.158 *

25.140 **

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