- The Swedish Krona rebounded from a 4-week low following better-than-expected service PMI figures.
- Sweden's Services PMI increased to a seasonally adjusted 48.7 in December from 47.9 in the previous month.
- EUR/SEK trades 0.1 percent down at 10.5055, having hit a high of 10.5430 on Monday, its highest since December 10.
- Technical indicators are slightly bearish on hourly charts: RSI weak at 47.49 and MACD supports downside.
- Immediate resistance is located at 10.5545, any close above could take it near 10.5705.
- On the lower side, support is seen at 10.4899 (21-EMA), break below could take it till 10.4707 (21-DMA).
Recommendation: Good to sell on rallies around 10.5203, with stop loss of 10.5430, and target price at 10.4899.
