USD/CZK may rise 92 - 134 pips

Our pivot point stands at 22.779.

Our preference

As long as 22.779 is support look for 22.990.

Alternative scenario

The downside breakout of 22.779 would call for 22.709 and 22.667.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (22.879) but above its 50 period moving average (22.774).

Supports and resistances

23.073 **

23.031 *

22.990 **

22.948

22.856 last

22.807

22.779 **

22.709 *

22.667 **

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