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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 has been trading sideways in the past two weeks, within a tight 30-pip range between 20.72 and 21. First support to watch on the downside below 20.72 stands at 20.35; on the topside, resistance to watch above 21 stands at 21.22.
- EURCZK: momentum on the pair has also paused in the past two weeks, with EURCZK trading slightly below the 25.50 level; levels to watch on the topside stands at 25.62, followed by 25.76 (50D SMA). On the downside, first support to watch stands at 25.27.
- GBPCZK ticks higher this morning after finding a local low of 29.35 earlier; short term support to watch stands at 29.22, followed by 29. On the topside, main resistance stands at 29.67 (200D SMA), which the pair failed to break last week; higher resistance stands at 29.87 (100D and 50D SMA).
- CZKPLN has been retracing lower in the past week, currently testing its 100D SMA at 0.1755; a break below that level would open the door for a move down to 0.1740. On the topside, first resistance stands at 0.1766 (50D SMA), followed by 0.1791.
- CZKHUF: momentum has been bearish in recent weeks after the pair broke below its 200D SMA at 13.70 last week; next support to watch on the downside stands at 13.50. On the topside, first resistance to watch above 13.70 stands at 13.87 (50D and 100D SMA).
- CZKRUB has been trading sideways in the past few weeks, oscillating around 3.52; supports to watch on the downside stands at 3.47 (100D SMA), followed by 3.44 (200D SMA). On the topside, key resistance remains at 3.60, which represents the pair's all time high.
- CZKJPY: traders continue to chase the momentum on the pair and favors the CZK over JPY; the pair is currently testing key resistance at 5.26, which represents the high of its LT upward trending channel (and also April 2018 high). Next key level to watch on the topside stands at 5.46, which was the high reached in early February 2018 when liquidity peaked in the EM market (pre-Covid). On the downside, first support stands at 5.20, followed by 5.10 (50D SMA).
RSI 14D is still showing that the pair is currently 'moderately 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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