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EURCZK Testing Its 50DMA Resistance

CZECHIA
  • USDCZK has been retracing higher in recent days after finding support slightly below the 24 level on Tuesday; ST resistance to watch stands at 24.33. On the downside, support to watch remains at 24.
  • EURCZK continues to trend higher this week, breaking above its 100DMA and currently testing its 50DMA at 24.66. A break above that level would open the door for a move up to 24.7950 (200DMA, 61.8% Fibo retracement). On the downside, support to watch stands at 24.50.

Source: Bloomberg

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