FxWirePro: EUR/SEK exhibits range bound movement, bias remains neutral

• EUR/SEK is currently trading around 9.5402 levels.
   
• It made intraday high at 9.5449 and low at 9.5378 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 9.5500 marks.
   
• A sustained close above 9.55 tests key resistances 9.5668, 9.5913 and 9.6098 marks respectively.
   
• Alternatively, a daily close below 9.5445 will tests key supports at 9.5229, 9.5106, 9.5048, 9.4959, 9.4652 and 9.4366 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.