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

• EUR/SEK is currently trading around 9.6520 levels.
   
• It made intraday high at 9.6790 and low at 9.6421 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 9.6243 levels.
   
• A sustained close above 9.6405 tests key resistances 9.6592, 9.6790, 9.6926 and 9.7049 marks respectively.
   
• Alternatively, a daily close below 9.6405 will tests key supports at 9.6243, 9.5977, 9.5711, 9.5565, 9.5399, 9.5228, 9.5098, 9.4852, 9.4652 and 9.4310 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Swedish Q1 capacity utilisation +0.4 pct points q/q.
   
• Swedish Q1 industrial inventories +8.6 bln SEK q/q.

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.