Free Trial

CZKJPY Finds Resistance at 76.4% Fibo

CZECHIA
  • EURCZK ticks higher this morning after finding support at its 50DMA at 24.60; a break below that level would have opened the door for a move down to 24.50. On the topside, resistance to watch stands at 24.88, followed by 24.96 (100DMA).
  • USDCZK ticks higher this morning after finding support at 22.28 earlier; ST resistance to watch on the topside stands at 22.50. On the downside, next support to watch below 22.28 stands at 22.09 (100DMA).
  • GBPCZK retraces higher this morning, currently testing its 50DMA at 29.4830; next resistance to watch on the topside stands 29.6470 (100DMA). On the downside, support to watch stands at 29.
  • CZKPLN ticks higher morning after finding support at 0.1888 earlier and is currently testing its 0.19 resistance; next level to watch on the topside stands at 0.1916. On the downside, support to watch below 0.1888 stands at 0.1871 (50DMA).
  • CZKHUF has been trending higher in the past few days, current trading above the 15 level; next ST resistance to watch on the topside stands at 15.25. On the downside, support to watch stands at 14.91.
  • CZKJPY has been retracing sharply higher in the past ten days and tested its 5.3180 resistance earlier (76.4% Fibo retracement of the 4.8120 – 5.4750 range). Next level to watch on the topside stands at 5.40. On the downside, ST support to watch stands at 5.2650 (50DMA). (chart below).

Source: Bloomberg/MNI

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.