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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.
CZECHIA
- CZKRUB has been retracing higher after rejecting its 3.48 support on Wednesday, which corresponds to the 38.2% Fibo retracement of the 3.31-3.59 range.
- The pair retraced lower last week amid RUB strength following the CBR decision to hike its policy rate by 50bps to 5% amid rising inflationary pressures.
- We have seen lately that despite the rise in political uncertainty, Czech assets have remained firm with CZK remaining strong against all major FX crosses.
- Key resistance to watch on the topside stands at 3.60, which represents the pair's all time high. On the downside, next support to watch after 3.48 stands at 3.45 (50% Fibo, 100DSMA).
Source: Bloomberg/MNI
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.
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