Free Trial

EURCZK Approaching Key Support at 24.50

CZECHIA
  • USDCZK continues to reach new highs amid broad USD strength, with the pair breaking above the 24.50 level this week. Next resistance to watch on the topside stands at 24.8120 (76.4% Fibo of 20.7250 – 26.0740 range). On the downside, support to watch stands at 24.1740.
  • CZKJPY tick lower this morning, currently trading slightly below the 5.60 level; ST support to watch on the downside stands at 5.5090 (100DMA). On the topside, resistance to watch stands at 5.6220 (50DMA).
  • GBPCZK ticks lower this morning., currently trading slightly above the 29 level; ST support to watch on the downside stands at 28.76. On the topside, resistance to watch stands at 29.2720 (100DMA).
  • CZKPLN has trending higher this morning, breaking above its all-time high at 0.1947 this week; next key level to watch on the topside stands at 0.20. On the downside, support to watch stands at 0.1947, followed by 0.1917.
  • CZKHUF has been trending higher this week, currently trading slightly below its all-time high at 16.8170 reached last week. Support to watch on the downside stands at 16.50.
  • EURCZK continues to retrace lower this morning, gradually approaching its ST key support at 24.50. On the topside, first resistance to watch stands at 24.7330 (100DMA), followed by 24.7980. (see chart).

Source: Bloomberg/MNI

To read the full story

Close

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.