- The Swedish Krona retreated from a 4-month peak hit in the previous session following mixed economic data.
- Sweden's consumer confidence indicator declined to 91.9 in November from 92.7 in the previous month, pointing to a weak sentiment among households. However, total industry confidence indicator rose to 96.9 in November from a revised 94.5 in the previous month,
- Separate data showed, the country's retail sales increased 0.20 percent in October, but below the previous month's reading of 0.5 percent and expectations of 0.4 percent.
- EUR/SEK trades 0.3 percent up at 10.5550, having hit a low of 10.5256 on Wednesday, its lowest since July 26.
- Technical indicators are bullish on hourly charts: RSI strong at 59.64, Stochs are biased higher and MACD supports upside.
- Immediate resistance is located at 10.5713, any close above could take it near 10.5847.
- On the lower side, support is seen at 10.5171, break below could take it till 10.5108.
Recommendation: Good to buy on dips around 10.5362, with stop loss of 10.5171, and target price at 10.5713.
