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CZK: Downside Momentum for EUR/CZK Accelerates Through 50-Day EMA

CZK
  • Downside momentum for EURCZK accelerated through today’s earlier low, which closely coincides with the 50-day EMA (25.178). The cross now sits around 0.2% lower on the session and near Monday’s multi-week low. 
  • A close below the aforementioned average would be the first since late-June, and could potentially bolster bearish momentum. 
  • Local catalysts have been limited since the above-consensus inflation print on Monday, with PPI the next local release of note on Friday.
     

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