EUR/CZK may fall 101 - 124 pips

Our pivot point stands at 25.058.

Our preference

Target 24.902.

Alternative scenario

The upside breakout of 25.058, would call for 25.098 and 25.122.

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 pair is trading under its 20 period moving average (25.042) but above its 50 period moving average (25.016).

Supports and resistances

25.122 **

25.098 *

25.058 **

25.042

25.026 last

24.925

24.902 **

24.878 *

24.854 **

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