USD/CZK may fall 105 - 149 pips

Our pivot point is at 23.415.

Our preference

The downside prevails as long as 23.415 is resistance.

Alternative scenario

The upside breakout of 23.415, would call for 23.488 and 23.531.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.401 and 23.410). Finally, the USD/CZK has penetrated its lower Bollinger band (23.353).

Supports and resistances

23.531 **

23.488 *

23.415 **

23.387

23.353 last

23.248

23.204 **

23.161 *

23.118 **

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