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Koruna Trades Flat As Quiet Week For Czechia Begins

CZK

The absence of major domestic catalysts leaves EUR/CZK adrift, with the pair struggling to test the boundaries of recent price action. The pair last sits +0.001 at 25.451 and a clearance of Feb 15 high of 25.519 would expose Mar 2, 2022 high of 25.936. On the flip side, bears look for a pullback under Jan 2 high of 24.867. Note that the RSI is now comfortably in overbought territory (last around 77), signalling potential for a short-term correction, albeit the pair has ticked away from the upper Bollinger band.

  • CZGBs are under pressure across the curve, in line with a regional pattern. The PX Index operates just shy of a cyclical peak reached ahead of the weekend.
  • There is little of real note on Czechia's data docket this week, with just the monthly economic sentiment indicators coming out Friday.

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