Technicals

Add as a preferred source on Google

FxWirePro: EUR/SEK near 2-week peak, jump till 10.7240 likely

The Swedish Krona eased to an over 1-week low as the greenback consolidated near multi-week peaks. The pair rallied as high as 10.7212 but finds strong resistance at 21-EMA. EUR/SEK trades 0.4 percent up at 10.7145, havi…

1 min read
FxWirePro: EUR/SEK near 2-week peak, jump till 10.7240 likely
Image from the original EconoTimes article

Read the original article

  • The Swedish Krona eased to an over 1-week low as the greenback consolidated near multi-week peaks.
     
  • The pair rallied as high as 10.7212 but finds strong resistance at 21-EMA.
     
  • EUR/SEK trades 0.4 percent up at 10.7145, having hit a high of 10.7212 earlier, its highest since November 1.
     
  • Technical indicators are bullish: Stochs are biased higher.
     
  • Immediate resistance is located at 10.7240 (55-EMA), any close above could take it near 10.7418 (21-DMA). 
     
  • On the lower side, support is seen at 10.6676 (5-DMA), break below could take it till  10.6424.

Recommendation: Good to buy on dips around 10.6809, with stop loss of 10.6707 and target price at 10.7240 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560