EUR/CZK 1H Chart: Upside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Sell Neutral
 Alligator(13;8;5) Buy Buy Sell
 SAR(0.02;0.2) Sell Buy Sell
 Aggregate

The EUR/CZK reversed from the lower boundary of the long-term ascending channel located circa 25.50 at the middle of January.  

From a theoretical point of view, the general direction is expected to remain north as the exchange rate should reach the upper channel line located in the 26.40/26.50 range. Important resistance level to look out for is the Fibonacci 23.60% retracement at 25.94. 

If given resistance level holds, it is likely that a reversal south occurs within following sessions, and the pair re-tests the lower channel line.

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