Free Trial

EURCZK Approaching 100DMA Resistance

  • Economic data to watch this morning will be Q2 GDP print coming out on July 29, expected to fall by 0.4% QoQ (vs. 0.9% in Q1.
  • This week, we saw that while Vice Governor Zamrazilova could consider ‘all options’ for the next meeting depending on GDP/wage data, Jan Frait said that he will be deciding between rate stability and small hike for the next meeting on August 4.
  • All 7 CNB policymakers will be present at the August 4 meeting.
  • EURCZK has been retracing higher in the past two weeks, gradually approaching its 100DMA at 24.6370.
    • A break above that level would open the door for a move up to 24.7980.
    • On the downside, support to watch stands at 24.50.

To read the full story



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.