USD/CZK may rise to 23.597 - 23.914

Our pivot point stands at 22.425.

Our preference

Rebound.

Alternative scenario

The downside breakout of 22.425 would call for 21.895 and 21.579.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (22.743) but below its 50 period moving average (23.153).

Supports and resistances

24.549 **

24.232 *

23.914 **

23.597

22.942 last

22.634

22.425 **

21.895 *

21.579 **

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