Published at 09:09 (GMT) 06 Aug
Pullback in EUR/CEE crosses extends, supported by S&P futures but EUR/CZK momentum is almost non existent, trading sideways around 25.20 this morning. The pair is still stuck in the 25.20-25.40 range of the previous week, but the 25.16 support area was tested in the earlier hours. We mentioned in our weekly strategy that the extent of the koruna gains will be depended on the S&P futures and euro rally. Although S&P index is up 2.0pts on the day, the euro has slipped on renewed eurozone worries, thus we may be looking for a fresh trigger before 7 June lows of 25.13 are tested.