Free Trial

EURCZK Testing Its 100DMA Resistance

CZECHIA
  • Ruling coalition parties and opposition leaders will hold talks about foreign policy in the wake of Russia’s invasion of Ukraine (BBG).
  • This morning, the CNB announced that it will start the procedure to revoke the banking license of the Sberbank unit in the country.
  • As for its CEE peers, selling pressure on CZK has been intense in the past week.
  • EURCZK has been testing its 100DMA (25) in the past three days, a break above that level would open the door for a move up to 25.2360 (200DMA).
  • This morning, economic data showed that M2 money supply decelerated to 6.9% in January, down from 7.3% the previous month.

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.