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FxWirePro: EUR/SEK breaks above 55-EMA, good to buy on dips

The Swedish Krona eased, extending previous session losses, as the euro gained across the board. EUR/SEK trades 0.1 percent up at 10.5587, having hit a high of 10.5930 on Monday, its highest since November 26. Technical …

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FxWirePro: EUR/SEK breaks above 55-EMA, good to buy on dips
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  • The Swedish Krona eased, extending previous session losses, as the euro gained across the board.
  • EUR/SEK trades 0.1 percent up at 10.5587, having hit a high of 10.5930 on Monday, its highest since November 26.
  • Technical indicators are bullish: RSI strong at 55.88, Stochs are biased higher and MACD supports upside.
  • Immediate resistance is located at 10.5690, any close above could take it near 10.5774.
  • On the lower side, support is seen at 10.5414 (5-DMA), break below could take it till 10.53117 (7-EMA)

Recommendation: Good to buy on dips around 10.5538, with stop loss of 10.5414 and target price at 10.5774.

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