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Technical Analysis: CZKJPY Approaching 50DMA Support

CZECHIA
  • USDCZK has been trending higher in the past week, gradually approaching its ST resistance at 22.24; next level to watch on the topside stands at 22.35. On the downside, first support stands at 22.
  • EURCZK has been steady in the past week, oscillating around 25.25. resistance to watch on the topside stands at 25.42 (50DMA). On the downside, support to watch stands at 25.
  • GBPCZK has been retracing higher this week and tested its 200DMA earlier 29.89; a break above that level would open the door for a move up to 30, followed by 30.16. On the downside, first support to watch stands at 29.50.
  • CZKPLN keeps reaching new record high, breaking above the 0.1850 level this morning; next resistance to watch on the topside stands at 0.1875, which corresponds to the high of the LT upward trending channel. On the downside, first support stands at 0.1825.
  • CZKHUF has been consolidating lower in the past two days after reaching a record high at 14.55 yesterday; support to watch on the downside stands at 14.40.
  • CZKJPY has been consolidating lower in the past week, gradually approaching its 50DMA at 5.1360; a break below that level would open the door for a move down to 5.0910 (200DMA). On the topside, first resistance stands at 5.20, followed by 5.2330. (chart below).

Source: Bloomberg/MNI

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