The Swedish Krona declined after rising for two straight sessions following soft inflation figures. Sweden's annual inflation rate came in at 1.8 percent in December, unchanged from the previous month and matching market…
The Swedish Krona declined after rising for two straight sessions following soft inflation figures.
Sweden's annual inflation rate came in at 1.8 percent in December, unchanged from the previous month and matching market forecasts, while the CPIF (consumer price index measured with a fixed interest rate) was at 1.7 percent year-on-year in December, unchanged from the November and matching expectations.
EUR/SEK trades 0.1 percent up at 10.5470, having hit a high of 10.5930 on Monday, its highest since November 26.
Technical indicators are bullish: RSI strong at 54.47, Stochs indicate bullish crossover and MACD supports upside.
Immediate resistance is located at 10.5690, any close above could take it near 10.5774.
On the lower side, support is seen at 10.5095 (21-EMA), break below could take it till 10.4948.
Recommendation: Good to buy on dips around 10.5319, with stop loss of 10.5192 and target price at 10.5690.
