• The Swedish Krona rallied to a 7-1/2 week peak as the euro declined after data showed the eurozone economy contracted at a record rate as much economic activity in March came to a halt due to COVID-19 pandemic
   
• Data released earlier showed the eurozone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply.
   
• The pair slumped below major support level at 200-DMA and now targets 10.6502.
   
• EUR/SEK trades 0.5 percent down at 10.6519, having hit a low of 10.6511 earlier, its lowest since March 9.
   
• Immediate resistance is located at 10.7375, any close above could take it near 10.7460.
   
• On the lower side, support is seen at 10.6500 / 10.6420, break below could take it till 10.6360.