EUR/CZK may fall 96 - 121 pips

24.731 is our pivot point.

Our preference

The downside prevails as long as 24.731 is resistance.

Alternative scenario

Above 24.731, look for 24.774 and 24.799.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 24.707 and 24.713). Finally, the EUR/CZK is trading below its lower Bollinger band (standing at 24.682).

Supports and resistances

24.799 **

24.774 *

24.731 **

24.715

24.663 last

24.567

24.542 **

24.517 *

24.492 **

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