USD/CZK may rise 144 - 194 pips

23.231 is our pivot point.

Our preference

The upside prevails as long as 23.231 is support.

Alternative scenario

The downside breakout of 23.231 would call for 23.146 and 23.096.

Comment

The RSI is above its neutrality area at 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 23.252 and 23.235). Finally, the USD/CZK has crossed above its upper Bollinger band (23.319).

Supports and resistances

23.620 **

23.570 *

23.519 **

23.469

23.325 last

23.264

23.231 **

23.146 *

23.096 **

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