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Add as a preferred source on Google FxWirePro: EUR/SEK halts 2-day rally, dip till 10.5123 likely The Swedish Krona retreated from a 1-week trough hit earlier in the session as markets awaited service PMI and current account figures due tomorrow. EUR/SEK trades 0.4 percent down at 10.5264, having hit a high of 10.574…
By FxWirePro Team Dec 3, 2019, 10:14 AM UTC
Updated Dec 4, 2019, 8:38 AM UTC 1 min read
Image from the original EconoTimes article Read the original article
The Swedish Krona retreated from a 1-week trough hit earlier in the session as markets awaited service PMI and current account figures due tomorrow.
EUR/SEK trades 0.4 percent down at 10.5264, having hit a high of 10.5744 earlier, its highest since November 26.
Technical indicators are bearish: RSI weak at 33.85, Stochs are at oversold levels and MACD supports downside.
Immediate resistance is located at 10.5914 (10-DMA), any close above could take it near 10.6082.
On the lower side, support is seen at 10.5123, break below could take it till 10.4963.
Recommendation: Good to sell on rallies around 10.5693, with stop loss of 10.5914 and target price at 10.5123.
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