CZK/EUR: Weakness To Resume By End-Year

The Czech koruna pushed through resistance at CZK26.80/EUR on April 17, and has since slipped further to trade at CZK26.88/EUR at one point on April 23. In light of this breach, we see potential for the unit to depreciate further towards support at CZK27.70/EUR in the short term. That said, we note that a sustained uptick in global risk appetite would likely see the unit recover to the opposite side of its current trading band, with resistance to be found at CZK26.30/EUR.

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