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FxWirePro: EUR/SEK halts 3-day losing streak, finds strong support at 55-EMA

The Swedish Krona declined, halting a 3-day rally as the euro strengthened across the board. On Friday, the pair fell to a near 6-week low but found strong support at 55-EMA. Investors now await European Central Bank's p…

By FxWirePro Team
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FxWirePro: EUR/SEK halts 3-day losing streak, finds strong support at 55-EMA
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  • The Swedish Krona declined, halting a 3-day rally as the euro strengthened across the board.
     
  • On Friday, the pair fell to a near 6-week low but found strong support at 55-EMA.
     
  • Investors now await European Central Bank's policy meeting on Thursday, where it is likely to extend its debt purchases to include junk bonds. 
     
  • EUR/SEK trades 0.1 percent up at 10.8607, having hit a low of 10.8252 in the prior session, its lowest since March 16.
     
  • 55-EMA continues to act as major support. 
     
  • Immediate resistance is located at 10.8921 (21-EMA), any close above could take it near 10.9085.
     
  • On the lower side, support is seen at 10.8191 (55-EMA), break below could take it till 10.8080.

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By FxWirePro Team