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FxWirePro: EUR/SEK back above 9.27 mark, good to sell on rallies

EUR/SEK is currently trading around 9.2763 levels. It made intraday high at 9.2806 and low at 9.2615 levels. Intraday bias remains bearish till the time pair holds key resistance at 9.3039 marks. A daily close above 9.28…

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FxWirePro: EUR/SEK back above 9.27 mark, good to sell on rallies
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  • EUR/SEK is currently trading around 9.2763 levels.
     
  • It made intraday high at 9.2806 and low at 9.2615 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.3039 marks.
     
  • A daily close above 9.28 is required to take the parity higher towards key resistance at 9.3262 marks.
     
  • A daily close below 9.2659 will take the parity down towards key supports at 9.2351 (May 25, 2016 low), 9.2050 (March 16, 2016), 9.1919 and 9.1416 marks respectively.
     
  • Alternatively, reversal from key support tests key resistances at 9.2953, 9.3028, 9.3262, 9.3781(May 19, 2016 high), 9.3967, 9.4102, 9.4682 (high of February 08, 2016) and 9.4942 marks.

We prefer to take short position in EUR/SEK around 9.2750, stop loss 9.3039 and target of 9.2578 marks.

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