#EURCZK @ 24.6789 to surge above 25.00 on a break past 24.70 – SocGen
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EUR/CZK has neared the 24.70 mark. Beyond here, the pair could test 25.00 and then 25.20, economists at Société Générale report.
“The EUR/CZK pair has recently evolved within an ascending triangle with a flat upper limit near 24.70. The pattern points towards potential upside.”
“If a break beyond 24.70 materializes, ongoing bounce is expected to extend towards 25.00 and the upper band of a multiyear descending channel at 25.20.”
“First support is at 24.48, the 50% retracement from August.”
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