EUR/CZK may rise 51 - 76 pips

Our pivot point is at 24.695.

Our preference

The upside prevails as long as 24.695 is support.

Alternative scenario

The downside breakout of 24.695 would call for 24.654 and 24.629.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 24.711 and 24.703). Finally, the EUR/CZK has crossed above its upper Bollinger band (24.739).

Supports and resistances

24.870 **

24.845 *

24.820 **

24.795

24.744 last

24.712

24.695 **

24.654 *

24.629 **

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