EUR/CZK has staged a rebound after forming a trough near 24.09 earlier this month. But if the pair fails to pierce the 24.75 level, another leg lower towards the 2011 low of 23.93 could be witnessed, economists at Société Générale report.

Near-term resistance aligns at 24.75

“Daily Ichimoku cloud at 24.75 is near-term resistance.”

“Failure to cross 24.75 can take the EUR/CZK pair lower towards 2011 low of 23.93.”