USD/CZK may rise 100 - 150 pips

Our pivot point is at 22.989.

Our preference

The upside prevails as long as 22.989 is support.

Alternative scenario

The downside breakout of 22.989 would call for 22.906 and 22.856.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.037 and 23.031). Finally, the USD/CZK has crossed above its upper Bollinger band (23.082).

Supports and resistances

23.335 **

23.285 *

23.236 **

23.186

23.086 last

23.022

22.989 **

22.906 *

22.856 **

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