USD/CZK may fall 100 - 149 pips

Our pivot point stands at 23.448.

Our preference

Under pressure below 23.448.

Alternative scenario

The upside breakout of 23.448, would call for 23.530 and 23.579.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. 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 23.418 and 23.380). Finally, the USD/CZK has penetrated its lower Bollinger band (23.373).

Supports and resistances

23.579 **

23.530 *

23.448 **

23.415

23.370 last

23.270

23.221 **

23.172 *

23.124 **

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