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Add as a preferred source on Google FxWirePro: EUR/SEK halts 3-day losing streak, intraday bias bullish EUR/SEK trades 0.3 percent up at 10.6927, having hit a high of 10.7563 on Thursday, its highest since September 10. On Monday, the pair plunged to a near 1-week low, breaching major support at 55-EMA. Technical indicator…
By FxWirePro Team Sep 24, 2019, 9:33 AM UTC
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EUR/SEK trades 0.3 percent up at 10.6927, having hit a high of 10.7563 on Thursday, its highest since September 10.
On Monday, the pair plunged to a near 1-week low, breaching major support at 55-EMA.
Technical indicator support upside: RSI strong at 50.75, MACD supports upside and Stochs are biased higher.
Immediate resistance is located at 10.7336, close above could take it near 10.7571 (August 26 High)
On the lower side, support is seen at 10.6420 (August 22 Low), break below could take it till 10.6170 (trendline joining 10.6019 and 10.6290).
Recommendation: Good to buy on dips around 10.6710, with stop loss of 10.6490 and target price at 10.7336.
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