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FxWirePro: EUR/SEK hovers around 9.60 mark, faces key support at 9.5911

  • EUR/SEK is currently trading around 9.6001 levels.
     
  • It made intraday high at 9.6128 and low at 9.5938 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 9.5911 levels.  
     
  • A daily close below 9.5911 will take the parity down towards key supports at 9.5717, 9.5611, 9.5461, 9.53 and 9.5210 marks respectively.
     
  • On the other side, a daily close above 9.6165 is required to take the parity higher towards key resistance at
    9.6291/9.6455/9.6655/9.6742.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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