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CZK: Struggling To Test 200-DMA

PLN

PLN/CZK has largely traded sideways today, with a slight bearish bias. It refreshed cyclical highs at CZK5.1170 in the process but last changes hands -43 pips at CZK5.1026, refusing to attack the nearby 200-DMA, which kicks in at CZK5.1232.

  • A break above that moving average and Mar 15 high of CZK5.1319 would suggest that bullish momentum is building. Meanwhile, bears look for a pullback towards the CZK5.00 figure and Apr 11 low of CZK4.9724.
  • Czechia's data docket is very light next week, but we will get Polish PPI, industrial output and retails sales (Monday), unemployment (Wednesday) and, most importantly, flash CPI (Friday).

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