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FxWirePro: EUR/SEK extends losses below 10-DMA, dip till 10.8721 likely

The Swedish Krona rose, extending previous session gains, as oil prices rebounded from multi-year lows. EUR/SEK trades 0.4 percent down at 10.8817, having hit a high of 10.9746 on Tuesday, its highest since April 8. Tech…

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FxWirePro: EUR/SEK extends losses below 10-DMA, dip till 10.8721 likely
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  • The Swedish Krona rose, extending previous session gains, as oil prices rebounded from multi-year lows. 
     
  • EUR/SEK trades 0.4 percent down at 10.8817, having hit a high of 10.9746 on Tuesday, its highest since April 8.
     
  • Technical indicators are bearish: RSI weak at 67, MACD supports downside and Stochs are biased lower 
     
  • Immediate resistance is located at 10.9496, any close above could take it near 10.9575.
     
  • On the lower side, support is seen at 10.8660, break below could take it till 10.8568.

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