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EURCZK Approaches 24.00 Handle

CZK
  • EURCZK is trading close to its recent lows as positive risk sentiment supports EM FX.
  • Along with its CE3 peers, the Koruna traded well last week despite no obvious domestic catalysts, with spot returns against the euro last week standing at 0.75% – second to only the Hungarian forint in the EMEA space.
  • Bears will eye additional losses toward the 24.00 handle – a level not reached since the CNB ended its FX intervention regime. The 50-day EMA at 23.918 will be watched further out.

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