- The Swedish Krona hits a fresh 4-month peak following upbeat Gross Domestic Product (GDP) figures.
- Sweden's Gross Domestic Product expanded 0.3 percent in the third quarter after recording a 0.1 percent growth in the previous quarter.
- On annualized basis, Gross Domestic Product expanded 1.6 percent in the third quarter but below a forecast of 1.9 percent.
- EUR/SEK trades flat at 10.5165, having hit a low of 10.5087 earlier, its lowest since July 25.
- Technical indicators are bearish: RSI weak at 27.62, Stochs are at oversold levels and MACD supports downside.
- Immediate resistance is located at 10.5281, any close above could take it near 10.5508.
- On the lower side, support is seen at 10.5060, break below could take it till 10.4963.
Recommendation: Good to sell on rallies around 10.5108, with stop loss of 10.5281, and target price at 10.4963.
