FxWirePro: EUR/SEK near 1-week peak, likely to test 10.9000
The Swedish Krona plunged to a near 1-week low on the back of downbeat economic data and broad-based greenback strength. Sweden's Swedbank Manufacturing PMI dropped to 36.7 in April from a downwardly revised 42.6 in the …
The Swedish Krona plunged to a near 1-week low on the back of downbeat economic data and broad-based greenback strength.
Sweden's Swedbank Manufacturing PMI dropped to 36.7 in April from a downwardly revised 42.6 in the previous month, indicating the steepest contraction in the sector since February 2009.
Last week, the pair fell to a 7-1/2 week low, breaching major support 200-DMA.
EUR/SEK trades 0.2 percent up at 10.8138, having hit a low of 10.6339 on Thursday, its lowest since March 9.
Immediate resistance is located at 10.9004, any close above could take it near 10.9365.
On the lower side, support is seen at 10.7717, break below could take it till 10.7509.
