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Add as a preferred source on Google FxWirePro: EUR/SEK consolidates below 11.000, good to buy on dips The Swedish Krona declined, hovering towards an 11-year trough recorded in the previous session. EUR/SEK trades 0.1 percent up at 10.9380, having hit a high of 11.0010 on Monday, its highest since July 2009. Technical in…
By FxWirePro Team Mar 17, 2020, 12:38 PM UTC
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The Swedish Krona declined, hovering towards an 11-year trough recorded in the previous session.
EUR/SEK trades 0.1 percent up at 10.9380, having hit a high of 11.0010 on Monday, its highest since July 2009.
Technical indicators are bullish: RSI strong at 67, MACD supports upside and Stochs indicate bullish crossover.
Immediate resistance is located at 11.0175, any close above could take it near 11.0233.
On the lower side, support is seen at 10.8185, break below could take it till 11.7655.
Recommendation: Good to buy on dips around 10.9263, with stop loss of 10.8794 and target price at 11.0175.
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