Free Trial

Technical Analysis: CZKJPY Breaks Above 100DMA Resistance

CZECHIA
  • USDCZK ticks higher this morning after receiving support at its 100DMA at 21.39 yesterday; next level to watch on the downside stands at 21.20. On the topside, first resistance stands at 21.52 (100DMA), followed by 21.63 (50DMA).
  • EURCZK retraces higher this morning after finding a local low at 25.31; key ST support to watch on the downside stands at 25.27 (June 11 low). On the topside, first resistance stand at 25.47, followed by 25.54 (50DMA).
  • GBPCZK has been receiving support at the 29.50 level in the past two days; next support to watch stands at 29.31. On the topside, key ST resistance to watch stands at 29.73 (200DMA).
  • CZKJPY continues to trend higher after breaking above its 100DMA at 5.13 yesterday; next resistance to watch on the topside stands at 5.22, followed by 5.28. On the downside, first support stands at 5.09 (50DM).
  • CZKHUF has been retracing lower in the past few days after finding a local high of 13.75 on Tuesday; ST support to watch on the downside stands at 13.60. On the topside, first resistance to watch stands at 13.83 (200DMA).
  • CZKPLN has been receiving support at its 100DMA (0.1776) in the past few days after consolidating sharply in the past month. Next support to watch below that stands at 0.1770, which represents the 23.6% Fibo retracement of the 0.1634 – 0.1812 range. On the topside, first resistance stands at 0.1785 (50DMA), followed by 0.18. (chart below)

Source: Bloomberg/MNI

To read the full story

Close

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.