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Koruna Barely Changed, 200-DMA Still In Play

CZK
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The 200-DMA remains magnetic for EUR/CZK, which struggles to return above that moving average or resume losses and move away from it. Local headline flow remains limited, with little in the way of market-moving news crossing the wires. The pair last trades flat at 24.719.

  • Technically, a break above the 200-DMA (24.773) would bring the 100-DMA (25.097) and the 50-DMA (25.132) into play. Bears look for a dip through May 16 low of 24.641 and towards Jan 8 low of 24.458. The RSI remains in oversold territory.
  • CZGB curve runs slightly steeper as the short end outperforms at the margin. The PX Index continues to press towards multi-year highs.
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The 200-DMA remains magnetic for EUR/CZK, which struggles to return above that moving average or resume losses and move away from it. Local headline flow remains limited, with little in the way of market-moving news crossing the wires. The pair last trades flat at 24.719.

  • Technically, a break above the 200-DMA (24.773) would bring the 100-DMA (25.097) and the 50-DMA (25.132) into play. Bears look for a dip through May 16 low of 24.641 and towards Jan 8 low of 24.458. The RSI remains in oversold territory.
  • CZGB curve runs slightly steeper as the short end outperforms at the margin. The PX Index continues to press towards multi-year highs.