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Add as a preferred source on Google FxWirePro: EUR/SEK halts 3-day losing streak, finds support at 10.5300 The Swedish Krona declined after rising to a 1-1/2 week peak in the previous session on better than expected service PMI. EUR/SEK trades 0.2 percent up at 10.5569, having hit a low of 10.5269 on Wednesday, its lowest sin…
By FxWirePro Team Feb 6, 2020, 10:39 AM UTC
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The Swedish Krona declined after rising to a 1-1/2 week peak in the previous session on better than expected service PMI.
EUR/SEK trades 0.2 percent up at 10.5569, having hit a low of 10.5269 on Wednesday, its lowest since January 24.
Technical indicators are turning bullish: RSI point north and Stochs on the verge of a bullish crossover.
Immediate resistance is located at 10.5679 (55-EMA), any close above could take it near 10.5945 (7-EMA).
On the lower side, support is seen at 10.5242, break below could take it till 10.5137.
Recommendation: Good to buy on dips around 10.5400, with stop loss of 10.5290 and target price at 10.5679.
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