EUR/CZK may fall 91 - 112 pips

Our pivot point stands at 25.251.

Our preference

The downside prevails as long as 25.251 is resistance.

Alternative scenario

Above 25.251, look for 25.286 and 25.307.

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 25.249 and 25.241). Finally, the EUR/CZK has penetrated its lower Bollinger band (25.219).

Supports and resistances

25.307 **

25.286 *

25.251 **

25.237

25.219 last

25.128

25.107 **

25.087 *

25.066 **

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