EUR/CZK may rise 55 - 78 pips

24.554 is our pivot point.

Our preference

The upside prevails as long as 24.554 is support.

Alternative scenario

The downside breakout of 24.554 would call for 24.516 and 24.492.

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 trading above both its 20 and 50 period moving average (respectively at 24.613 and 24.625).

Supports and resistances

24.753 **

24.730 *

24.707 **

24.684

24.629 last

24.570

24.554 **

24.516 *

24.492 **

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