The Czech koruna lost at the beginning of
yesterday’s session in accordance with the
negative impact of the result of polish
presidential race on the whole region.
Nevertheless the koruna didn’t stay above
the 28,00 EUR/CZK for a long time and
recovered some of it’s early session’s losses
later during the day and closed at 29,72
EUR/CZK.
There are no domestic economic events
scheduled for today. Hence the regional
development should play crucial role once
again. Although the koruna with given
domestic economic growth is currently
undervalued, it will hardly get any positive
impetus to break through technical barriers
at 29,50 EUR/CZK by the end of the week.
On the other side even persistence of bad
regional sentiment should not drive the
koruna above strong resistance level at
29,85 EUR/CZK.
(CSOB - Investment research)