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CZK: EURCZK Hits Session High, Targets Resistance at 50-DMA

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EURCZK has hit session highs on the back of the CNB policy statement and presser, but the cross still remains within Tuesday’s ranges with koruna weakness broadly in-line with that of the Polish zloty. The 6-1 vote split tilts the decision in the more dovish direction, though the statement overall retains the ‘careful’ stance that we have become familiar with. 25.175, the 50-DMA which closely intersects with this week’s high, marks initial resistance for the cross.

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EURCZK has hit session highs on the back of the CNB policy statement and presser, but the cross still remains within Tuesday’s ranges with koruna weakness broadly in-line with that of the Polish zloty. The 6-1 vote split tilts the decision in the more dovish direction, though the statement overall retains the ‘careful’ stance that we have become familiar with. 25.175, the 50-DMA which closely intersects with this week’s high, marks initial resistance for the cross.