EUR/CZK may fall 52 - 76 pips

Our pivot point stands at 24.709.

Our preference

Technical rebound towards 24.709 before a new drop.

Alternative scenario

Above 24.709, look for 24.748 and 24.771.

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 stands above its 20 period moving average (24.663) but below its 50 period moving average (24.671).

Supports and resistances

24.771 **

24.748 *

24.709 **

24.694

24.671 last

24.619

24.595 **

24.572 *

24.549 **

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