- The Swedish Krona plunged to a 1-month low as investors continued to digest worse-than-expected Swedbank's Manufacturing PMI.
- The pair broke above major resistance at 10.8143 and is hovering towards all-time peak 10.8554 hit in August.
- EUR/SEK trades 0.2 percent up at 10.8163, having hit a high of 10.8230 earlier, its highest since September 3.
- Technical indicators support upside: RSI strong at 64.62, MACD show uptrend and Stochs are at overbought levels.
- Immediate resistance is located at 10.8373, any violation above could take it near 10.8554.
- On the lower side, support is seen at 10.7668, break below could take it till 10.7148 (7-EMA).
Recommendation: Good to buy on dips around 10.8009, with stop loss of 10.7780 and target price at 10.8554.
