CZK24.50/EUR Level Is Key

The Czech koruna has bounced off the support level at CZK25.10/EUR we highlighted on May 28 (see Watch Trendline Support for Short-Term Direction in our online service) and is now back to flirting with record highs, at one point trading at CZK24.50/EUR on June 5 and 6. We have long highlighted this level as a key resistance point to watch, with a breach through here suggestive of renewed appreciation into a new trading range toward our long-term target of CZK23.00/EUR.

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