EUR/CZK has the 25.75 resistance in its crosshairs – Commerzbank

The EUR/CZK pair has found support around the June low at 25.27. Looking ahead, EUR/CZK is set to advance towards the six-month downtrend line at 25.75, according to analysts at Commerzbank.

EUR/CZK eyes the six-month downtrend line at 25.75

“EUR/CZK is seeing some recovery from the 25.27 June low. Rallies should find tough resistance offered by the six month downtrend line at 25.75. Further resistance can be found between the early and late July highs as well as the 200-day moving average at 25.80/94.”

“Only currently unexpected failure at 25.27 would engage the February 2018 low at 25.12.”

“The 2008-2021 support line comes in at 25.01 and the February 2020 low at 24.77.”