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EURCZK Bull Consolidation Continues As ECB May Deliver ‘Hawkish Surprise’

CZECHIA
  • EURCZK continues its bull retracement this morning following market sources reporting that ECB could discuss a 50bps hike at the next meeting.
  • Reuters’s article also states that policy makers are homing in on a deal to make new bond purchases condition on Next Gen EU targets.
  • EURCZK is currently trading at around 24.54; next key resistance to watch on the topside stands at 24.71 (100DMA).
  • On the downside, support to watch stands at 24.50, followed by 24.30.

Source: Bloomberg/MNI

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