USD/CZK may rise 100 - 143 pips

Our pivot point stands at 23.134.

Our preference

The upside prevails as long as 23.134 is support.

Alternative scenario

The downside breakout of 23.134 would call for 23.062 and 23.019.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 23.164 and 23.147).

Supports and resistances

23.434 **

23.391 *

23.347 **

23.304

23.204 last

23.163

23.134 **

23.062 *

23.019 **

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