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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 retrace higher this morning despite Rusnok 'hawkish' comments yesterday, gradually approaching its 21 resistance, a break above that level would open the door for a move up to 21.50 (50D and 100D SMA). On the downside, first support stands at 20.72, followed by 20.35.
- EURCZK has been trading sideways in the past few days and currently sits slightly below its 25.50 resistance; levels to watch on the topside stands at 25.74, followed by 25.82 (50D SMA). On the downside, first support stands at 25.27.
- GBPCZK has been retracing higher in the past two days after finding a local low of 29.31 on Tuesday; first key resistance on the topside stands at 29.66 (200D SMA), followed by 29.87 (100D SMA). On the downside, first support stands at 29.22, followed by 29.0.
- CZKPLN has been moving sideways in the past week, oscillating between 0.1760 and 0.1770. Key resistance to watch on the topside stands at 0.1791 (March 30); on the downside, first support below 0.1760 stands at 0.1753 (100D SMA).
- CZKHUF ticks lower this morning after finding a high of 13.80 yesterday and is currently testing its 200D SMA at 13.70; next support on the downside stands at 13.60. On the topside, first level to watch above 13.80 stands at 13.87 (100D SMA), followed by 13.89 (50D SMA).
- CZKRUB has been moving sideways in the past two weeks, oscillating between 3.50 and 3.56; key resistance to watch on the topside stands at 3.60, which represents the pair's all-time high. On the downside, next support to watch below 3.50 stands at 3.47 (100D SMA), followed by 3.43 (200D SMA).
- CZKJPY continues its consolidation following the strong momentum we have seen since the start of the month; ST resistance on the topside stands at 5.2650 (April 2018 highs), a break above that level would open the door for a move up to 5.4550, which was the high reached in the beginning of February 2018 when liquidity peaked in the EM market (pre Covid19). On the downside, first ST support stands at 5.20, followed by 5.07 (50D SMA).
The RSI 14D is showing that the pair has been slightly 'overbought' in the past few days.
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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