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- The Swedish Krona retreated from a 7-month peak as the euro steadied on upbeat German trade balance figures.
- EUR/SEK trades 0.5 percent up at 10.5350, having hit a low of 10.4825 on Friday, its lowest since end-April.
- Technical indicators are turning bullish on hourly charts: RSI strong at 64.24, Stochs are biased higher and MACD supports upside.
- Immediate resistance is located at 10.5444 (10-DMA), any close above could take it near 10.5578.
- On the lower side, support is seen at 10.4996, break below could take it till 10.4825.
Recommendation: Good to buy on dips around 10.5123, with stop loss of 10.4996, and target price at 10.5444.
