EUR/CZK may rise 49 - 72 pips

Our pivot point is at 24.514.

Our preference

The upside prevails as long as 24.514 is support.

Alternative scenario

Below 24.514, expect 24.475 and 24.452.

Comment

The RSI is above 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 24.548 and 24.571). Finally, the EUR/CZK has crossed above its upper Bollinger band (24.582).

Supports and resistances

24.710 **

24.687 *

24.663 **

24.640

24.591 last

24.529

24.514 **

24.475 *

24.452 **

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