FxWirePro: EUR/SEK extends losses below 10-DMA, dip till 10.8721 likely
Thursday, April 23, 2020 12:40 PM UTC
- 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.