EUR/CZK may fall 62 - 87 pips

Our pivot point is at 24.733.

Our preference

The downside prevails as long as 24.733 is resistance.

Alternative scenario

Above 24.733, look for 24.776 and 24.801.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 24.708 and 24.714).

Supports and resistances

24.801 **

24.776 *

24.733 **

24.717

24.698 last

24.636

24.611 **

24.586 *

24.560 **

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