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Focus turns to today's policy meeting....>

EURO-CZECH
EURO-CZECH: Focus turns to today's policy meeting at 1100GMT where the CNB is
expected to raise rates by 25bps to 1.50%, according to all economists in a
Bloomberg survey. Governor Rusnok previously said that borrowing costs may rise
further after September, and investors are expecting him to follow through with
a hawkish hike to keep the Koruna at its current levels. EURCZK holds heavy in
early Europe and moves through the 200-dma (Czk25.580) to print lows of
Czk25.577. Below here opens Czk25.526/522 (50% Czk25.407-25.645, Sep21 low),
ahead of the Sep 16 low at Czk25.407. Bulls need to clear long-term downtrend &
100-dma resistance at Czk25.654/25.730 for the next leg higher. Last Czk25.580. 

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