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EURCZK Finds Resistance At LT Downward Trending Line

CZECHIA
  • USDCZK has been retracing sharply higher in the past week, currently testing the 23 level. Next resistance to watch on the topside stands at 23.50. On the downside, support to watch stands at 22.81, followed by 22.50.
  • EURCZK has also been retracing sharply higher in the past week and tested its LT downward trending resistance line yesterday after breaking above its 200DMA. Next ST resistance to watch on the topside stands at 25.79. On the downside, support to watch now stands at 25.2370 (200DMA).

Source: Bloomberg/MNI

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