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EUR/CZK 1H Chart: Upside potential could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralSellNeutral
Stochastic(5;3;3)NeutralSellSell
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇒⇒

[ANNOUNCE] The EUR/CZK exchange rate has been going upwards since the beginning of March. Currently, the rate is testing the psychological level at 27.40. [/ANNOUNCE] 

Note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located in the 26.00/27.10 area. Thus, some upside potential could continue to prevail in the market. 

However, if the given resistance level holds, it is likely that a reversal south could occur in the nearest future. In this case it is unlikely that the exchange rate could decline below the monthly PP at 25.25.

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