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EURCZK ‘Unchanged’ Following CNB Decision

CZECHIA
  • The move on EURCZK was non-significant following the CNB decision; we previously saw that the koruna has not been very sensitive to CNB announcements in the past year.
  • The pair has been gradually retracing higher since its low reached in mid July and is currently testing its 50DMA at 24.66.
  • Next key resistance to watch on the topside stands at 24.7950 (200DMA, 61.8% Fibo of 24.09 – 25.94).
  • Governor Michl will hold press conference at 3.45 CET.

Source: Bloomberg/MNI

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