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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CZECHIA
- USDCZK continues to test new lows after breaking below its 21 support this week, currently trading at its lowest level since April 2018; next key support to watch on the downside stands at 20.35. On the topside, first ST resistance to watch stands at now at 21, followed by 21.58 (100D SMA).
- EURCZK ticks slightly higher this morning after finding a local low at 25.39 yesterday; next support to watch on the downside stands at 25.27 (March 2020 lows). On the topside, first resistance stands at 25.80, followed by 25.91 (50D SMA).
- GBPCZK has been retracing lower in the past week, currently testing its 29.50 support line; next support to watch on the downside stands at 29.22, followed by 29. On the topside, first resistance stands at 29.65 (200D SMA), followed by 29.85 (100D SMA).
- CZKPLN has been trading sideways in recent days, oscillating around 0.1780; resistance to watch on the topside stands at 0.1791 (March 30 high), a break above that level would open the door for a move up to 0.1834 (December 2011 high), which represents the pair's all time high. On the downside, first support stands at 0.1766 (50D SMA), followed by 0.1751 (100D SMA).
- CZKHUF has been consolidating lower this week following Virag comments on Monday and is currently testing its 13.80 support; next key support to watch on the downside stands at 13.69 (200D SMA). On the topside, first resistance stands at 13.88 (100D SMA), followed by 13.94 (50D SMA).
- CZKRUB has been trending slightly higher this week after receiving strong support at around 3.47 last week (50D and 100D SMA); key resistance to watch on the topside remains at 3.60, which represents the pair's all-time high. On the downside, first support stands at 3.50, followed by 3.47.
- CZKJPY has been trending higher in recent weeks amid CZK strength, gradually approaching its ST resistance at 5.26; a break above that level would open the door for a move up to 5.44 (Jan 2018 highs). On the downside, first support to watch stands at 5.14, followed by 5.04 (50D SMA). RSI 14 days is showing that the pair is currently 'overbought'. (chart below).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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