- EUR/SEK is currently trading around 9.6237 levels.
- It made intraday high at 9.6371 and low at 9.6192 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 9.6346 levels.
- A daily close below 9.6037 will take the parity down towards key supports at 9.5911, 9.5717, 9.5611, 9.5461, 9.53 and 9.5210 marks respectively.
- On the other side, a daily close above 9.6346 is required to take the parity higher towards key resistance at 9.6455/9.6655/9.6742.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Sweden will release industrial production data at 0730 GMT.
We prefer to go short on EUR/SEK around 9.6250, stop loss 9.6346 and target of 9.6037/9.5911.
