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CZKPLN Testing 100DMA Support

  • CZKPLN has been testing its 100DMA support at 0.1882 this week as Michl’s nomination as the new CNB governor has left the koruna vulnerable against currencies where central banks have maintained a ‘hawkish’ tone.
  • CZKPLN found resistance slightly below its 50DMA (0.1898) last week before consolidating lower in recent days.
  • A break below the 0.1882 level would open the door for a move down to 0.1868.
  • On the topside, resistance to watch above 0.1898 stands at 0.1910.

Source: Bloomberg/MNI

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