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Technical Analysis: CZKHUF Fails To Break Above 50DMA

CZECHIA
  • USDCZK has been trending higher in the past few days, breaking above its 100DMA at 21.46; next important resistance to watch on the topside stands at 21.79. On the downside, first support stands at 21.31, followed by 21.13 (50DMA).
  • EURCZK is flat this morning trading slightly below the 25.50 level; resistance to watch on the topside stands at 25.54 (50DMA), followed by 25.62. On the downside, ST key support stands at 25.27.
  • GBPCZK edges lower this morning and is currently testing its 50DMA at 29.64; next support to watch on the downside stands at 29.50, followed by 29.39. On the topside, first resistance stands at 29.71 (200DMA), followed by 29.94 (100DMA).
  • CZKJPY ticks higher this morning after finding a local low at 5.14 yesterday; ST resistances stand at 5.19 (50DMA), followed by 5.22. On the downside, key support to watch below 5.14 stands at 5.08 (100DMA).
  • CZKPLN has been trending slightly higher in the past few days, gradually approaching its 0.1780 resistance; key level to watch on the topside stands at 0.1791 (March 30 high). On the downside, first support stands at 0.1761 (100DMA), followed by 0.1748.
  • CZKRUB has been receiving some support above the 3.37 level after consolidating lower in June; resistance to watch on the topside stands at 3.44 (200DMA), followed by 3.46 (100DMA). On the downside, key support stands at 3.30 (March 16 low).
  • CZKHUF has been trading within a tight range in the past week (between 200D and 50DMA); resistance to watch above 13.81 (50DMA) stands at 13.86 (100DMA), followed by 14. On the downside, key support to watch below 13.73 (200DMA) stands at 13.54 (38.2% Fibo retracement of the 12.56 – 14.15 range).

Source: Bloomberg/MNI

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