The Czech koruna initially retouched its weekly high at EUR/CZK 29.77 on Friday

The Czech koruna initially retouched its weekly high at EUR/CZK 29.77 on Friday, whereby the bearish mood reached its peak. Nevertheless, the atmosphere change quickly and the koruna headed south for the most of the day. Pre-weekend positive mood spilled over the whole region. It’s worth mentioning the EUR/CZK again failed to break through strong resistance area at 29.800. There was no domestic impetus for the market. The koruna closed the week at 29:60. Today the calendar is empty and also days to come looks unattractive. Thus the slightly negative mood might prevail and the koruna may hover within the range of 29.50-29.80. Today it might stay in the stronger half of the range.

(CSOB - Investment research)