USD/CZK may rise 95 - 132 pips

Our pivot point stands at 22.729.

Our preference

The upside prevails as long as 22.729 is support.

Alternative scenario

The downside breakout of 22.729 would call for 22.667 and 22.631.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 22.747 and 22.760).

Supports and resistances

23.000 **

22.964 *

22.927 **

22.890

22.795 last

22.753

22.729 **

22.667 *

22.631 **

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