USD/CZK may rise 93 - 135 pips

Our pivot point is at 22.604.

Our preference

The upside prevails as long as 22.604 is support.

Alternative scenario

The downside breakout of 22.604 would call for 22.535 and 22.493.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 22.618 and 22.664). Finally, the USD/CZK has crossed above its upper Bollinger band (22.675).

Supports and resistances

22.896 **

22.854 *

22.813 **

22.771

22.678 last

22.632

22.604 **

22.535 *

22.493 **

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