- The Swedish Krona gains, hovering towards a 4-month peak hit in the previous session despite downbeat manufacturing PMI.
- Sweden's Swedbank Manufacturing PMI declined to 45.4 in November from 46.0 in the previous month and below market expectations of 47.1.
- EUR/SEK trades 0.2 percent down at 10.5280, having hit a low of 10.4966 on Friday, its lowest since July 25.
- Technical indicators are bearish: RSI weak at 32.02, Stochs are at oversold levels and MACD supports downside.
- Immediate resistance is located at 10.5847, any close above could take it near 10.6006.
- On the lower side, support is seen at 10.5123, break below could take it till 10.4963.
Recommendation: Good to sell on rallies around 10.5362, with stop loss of 10.5690, and target price at 10.4963.
