EUR/CZK may fall 102 - 127 pips

Our pivot point stands at 24.919.

Our preference

Under pressure below 24.919.

Alternative scenario

Above 24.919, look for 24.961 and 24.986.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 24.892 and 24.891).

Supports and resistances

24.986 **

24.961 *

24.919 **

24.902

24.884 last

24.782

24.757 **

24.732 *

24.708 **

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