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Technical Analysis: CZKJPY Supported By 61.8% Fibo

CZECHIA
  • USDCZK ticks lower this morning, currently trading slightly below its 200DMA at 21.76; next resistance to watch on the topside stands at 22. On the downside, first support to watch below 21.47 (100DMA) stands at 21.31.
  • EURCZK has been trending higher in the past few days after breaking through its 50DMA resistance last week; next level to watch on the topside stands at 25.79 (100DMA). On the downside, first support to watch below 25.52 (50DMA) stands at 25.34.
  • GBPCZK ticks lower this morning after failing to break through its 100DMA at 29.95; next resistance to watch on the topside stands at 30.18. On the downside, first support stands at 29.71 (200DMA), followed by 29.65 (50DMA).
  • CZKPLN ticks higher this morning after finding support below its 100DMA yesterday; resistance to watch on the topside stands at 0.1769, followed by 0.1776. On the downside, first support stands at 0.1762, followed by 0.1748.
  • CZKHUF has been retracing higher in recent days after failing to break below its 200DMA (13.74) on Monday; next resistance to watch on the topside stands at 13.86. On the downside, first support to watch below 200DMA stands at 13.60.
  • CZKRUB ticks lower this morning after testing its 200DMA resistance at 3.44 earlier; next levels to watch on the topside stand at 3.46 (100DMA) and 3.47 (50DMA). On the downside, first support stands at 3.40, followed by 3.36.
  • CZKJPY ticks higher this morning after receiving support at around 5.08, which represents the 100DMA and the 61.8% Fibo retracement of the 4.78 – 5.28 range (2021 low high). Important supports to watch on the downside stands at 5.03 (50%) and 4.97 (38.2% Fibo). On the topside, resistances to watch stand at 5.16 (76.4% Fibo), followed by 5.19 (50DMA). (chart below).

Source: Bloomberg/MNI


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