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Technical Analysis: CZKHUF Finds Support Above 38.2% Fibo

CZECHIA
  • USDCZK ticks lower this morning after failing to break above its 21 resistance on Friday; next resistance to watch on the topside stands at 21.22, followed by 21.34 (50D SMA). On the downside, first support stands at 20.72.
  • EURCZK has been retracing lower in the past few days after failing to break through its 25.50 ST resistance last week; next support to watch on the downside stands at 25.27. On the topside, next resistance to watch above 25.50 stands at 25.72 (50D SMA).
  • GBPCZK ticks lower this morning after failing to break through its 200D SMA on Friday (29.68); supports to watch on the downside stand at 29.29 (23.6% Fibo retracement of the 28..57-31.62), followed by 29. On the topside, next resistance above 29.68 stands at 29.82 (50D SMA).
  • CZKJPY has been consolidating lower in the past few days after finding a high at 5.28 on June 2; supports to watch on the downside stand at 5.20, followed by 5.12. On the topside, next key resistance to watch stands at 5.46.
  • CZKPLN ticks higher this morning after testing its ST support at 0.1750 several times last week; resistances to watch on the topside stand at 0.1765 (50D SMA), followed by 0.1791 (March 30 high). On the downside, next support to watch (below 0.1750) stands at 0.1740.
  • CZKHUF has been finding support above the 13.55 level in the past week, which corresponds to the 38.2% Fibo retracement of the 12.58 – 14.15 range; next supports to watch below that stand at 13.50, followed by 13.36 (50% retracement). On the topside, first resistance stands at 13.70 (200D SMA), followed by 13.78 (23.6% Fibo).

Source: Bloomberg/MNI

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