The EUR/CZK pair nonetheless targets the April low at 25.79 beneath which lies the February trough at 25.64, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, studies.
EUR/CZK stays underneath stress beneath the 55-day shifting common at 26.04
“EUR/CZK stays beneath the 55-day shifting common, now at 26.04, and continues to have the April low at 25.79 in its sights beneath which lie the 25.76 February 18 low in addition to the 25.64 February trough.”
“Extra important assist is discovered on the 25.42/40 September 2018 and June 2019 lows. A lot additional down lie the February 2018 low at 25.12 and the February 2020 low at 24.77.”
“Minor resistance above the 55-day shifting common and the six-month resistance line at 26.04 is available in on the March 24 excessive at 26.35.”
“Extra essential resistance sits between the 26.44 March excessive and the 26.57 mid-November and December highs. Solely an sudden every day chart shut above the 26.57 excessive would make us change our forecast to a bullish one.”