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Gold Inching Toward Bull Trigger

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  • USDCZK has been testing its 21 resistance in the past few days; a break above that level would open the door for a move up to 21.19 (50D SMA). On the downside, first support to watch stands at 20.72, followed by 20.50.
  • EURCZK has been retracing higher in the past few days, currently trading slightly below its 25.50 resistance; next level to watch on the topside stands at 25.60, followed by 25.64 (50D SMA). On the downside, first support stands at 25.27, followed by 25.
  • GBPCZK ticks lower this morning after failing to break above its 29.68 resistance (200D and 50D SMA); next level to watch on the topside stands at 29.90 (100D SMA). On the downside, first support stands at 29.30, followed by 29.22.
  • CZKJPY: momentum on the pair has paused in June after strong CZK performance in April and May; CZKPJPY is currently trading slightly below its 5.2650 resistance. Next level to watch on the topside stands at 5.40; on the downside, first support stands at 5.20, followed by 5.15 (50D SMA).
  • CZKHUF has been trending higher in the past week amid HUF recent weakness and is currently testing its 50D SMA at 13.83; a break above that level would open the door for a move up to 13.86 (100D SMA). Main resistance on the topside stands at 14.15, which represents the pair's all time high. On the downside, first support stands at 13.71 (200D SMA), followed by 13.57.
  • CZKRUB has been consolidating lower this month, recently breaking below its 200D SMA at 3.44; next support to watch on the downside stands at 3.40. On the topside, resistance to watch above 3.44 stands at 3.47 (100D SMA), followed by 3.51 (50D SMA).
  • CZKPLN: momentum on the pair looks firm after it received strong support at 0.1750 in the beginning of June; ST 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, which corresponds to the all-time high reached in December 2011. On the downside, first support stands at 0.1765 (50D SMA), followed by 0.1757 (100D SMA) and 0.1750. (chart below).

Source: Bloomberg/MNI