USD/CZK may fall 93 - 136 pips

23.195 is our pivot point.

Our preference

The downside prevails as long as 23.195 is resistance.

Alternative scenario

Above 23.195, look for 23.267 and 23.310.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.150 and 23.143). Finally, the USD/CZK has penetrated its lower Bollinger band (23.107).

Supports and resistances

23.310 **

23.267 *

23.195 **

23.167

23.098 last

23.005

22.962 **

22.919 *

22.877 **

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