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Koruna Stays Close To Its 50-DMA

CZK

EUR/CZK changes hands -0.015 at 25.263, struggling for a clear direction so far amidst the absence of major domestic catalysts. The rate continues to gravitate towards the ascending 50-DMA, despite recently crossing below that moving average. A return above the 50-DMA, last intersecting at 25.318, would expose Feb 15 high of 25.519. On the flip side, a dip through Mar 18 low of 25.087 would be a warning signal that the round figure of 25.000 could soon come under threat.

  • CZGB curve has twist flattened this morning, while the PX Index is little changed close to its recent cyclical highs.
  • On the political risk front, leaders of candidate lists for the European election will participate in a debate this afternoon.

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