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EURCZK Approaching Its 25 Support

CZECHIA
  • EURCZK broke below its 25.20 support yesterday and is gradually approaching the 25 level; next key support to watch below that stands at 24.77 (Feb 2020 low). On the topside, resistance to watch stands at 25.25.
  • USDCZK continues to retrace lower and broke below its 50DMA (22.27) yesterday following the CNB hike; next support to watch on the downside stands at 21.98 (100DMA). On the topside, resistance to watch stands at 22.50.
  • Czech 10Y yield has been retracing higher and broke above its 2.74% resistance, next key level to watch on the topside stands at 3%. On the downside, first support stands at 2.60%, followed by 2.55% (50DMA).

Source: Bloomberg/MNI

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