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CEE Currencies Continue To Strengthen Following ECB Meeting/Conference

EM FX
  • CZK, HUF and PLN have already been on a strong momentum this morning ahead of the ECB decision.
  • EURHUF broke below its 200DMA at 358.60 and is currently testing 100DMA at 357.10; a break below that level would open the door for a move down to 355.
  • EURPLN continues to retrace lower following yesterday bearish move, gradually approaching its next support at 4.55 (100DMA). Support to watch below that stands at 4.53 (200DMA).
  • EURCZK has been also trending slightly lower since the decision, gradually approaching today's low at 25.60.

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