EUR/CZK may rise 72 - 94 pips

Our pivot point stands at 24.645.

Our preference

The upside prevails as long as 24.645 is support.

Alternative scenario

The downside breakout of 24.645 would call for 24.607 and 24.585.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 24.675 and 24.690).

Supports and resistances

24.836 **

24.813 *

24.791 **

24.769

24.697 last

24.659

24.645 **

24.607 *

24.585 **

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