KeytoMarkets

USDCZK may be running into an area of resistance defined the fol

OANDA:USDCZK   USD/CZK

  • Facing resistance at 18-month descending trendline
    Stiff resistance at 200EA (weekly) seems to be at 22.60 above this 23.00 exists August 2015 low
    The August 2015 low coincides with the 100MA (weekly) and with the 50.00% fib reaction (Jan 2017 high-Jan 2018 low)
    The daily study RSI is indicating a lower high, if propels above 22.55 could paint a negative divergence
    Set of resistances seems between 23.00-23.25 above this 23.50 exists
    Overall 200MAs (weekly) spread between 23.00 and 23.50
A recovery back between 23.00-23.50 seems hard in the near-term. In this case, this would point a new downward wave towards 21.95 and 21.60 possible.
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