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Momentum on CEE Currencies Remain Firm Following US CPI

CEE FX
  • US CPI accelerated to 7% in December (as expected), up from 6.8% the previous month.
  • US Dollar continues its bearish consolidation in today’s trading session after breaking below its 50DMA yesterday.
  • USDHUF broke below its 100DMA today, gradually approaching its 310 support. Key level to watch on the downside stands at 305 (200DMA).
  • USDPLN broke below its 100DMA/38.2% Fibo today; next ST support to watch on the downside stands at 3.9440.
  • USDCZK also continues to retrace lower, gradually approaching its ST support at 21.2960. Next key level to watch on the downside stands at 21.

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