USD/CZK may rise 92 - 133 pips

Our pivot point stands at 22.511.

Our preference

The upside prevails as long as 22.511 is support.

Alternative scenario

The downside breakout of 22.511 would call for 22.441 and 22.400.

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 22.534 and 22.563). Finally, the USD/CZK is trading above its upper Bollinger band (standing at 22.572).

Supports and resistances

22.788 **

22.747 *

22.706 **

22.665

22.573 last

22.538

22.511 **

22.441 *

22.400 **

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