-USDCZK looking bullish after showing signs of reversal. Sellers pushed price down into support but buyers brought it back up above support before the daily candle close.
-The price action resulted in a daily pinbar setup AT SUPPORT which is a bullish sign.
-On the 1H time frame, price just broke a bearish trendline or the neckline of a head and...
The price is trading within a 1D Channel Up that is now on Higher Low level (RSI = 49.861, MACD = 0.107, Highs/Lows =-0.0169). Since every Higher High is -50% the value of the previous one, then the next TP should be near 23.22625.
From February to 23.April 18 was there some accumulation thats triggered big short covering rally. On Monthly timeframe its downtrend and 22.5 level is acting as very strong resistance. 21.80 there are big selling pressure.
After a sharply fall with bearish divergence, price is approaching to key support level 21.235 which coincides with 0.61% fibo since the last push at 18.56 in October 2013. Good opportunity for following the progress of the pair and catch a rebound.