FxWirePro: EUR/SEK spike to 9.4320 quickly sold-off, pair slips to session lows

EUR/SEK spiked to hit day's highs at 9.4320 after Riksbank held rates and increased its monthly purchases of bonds to SEK 65 bln from SEK 45 bln.

• The spike was quickly faded, the pair retraced all of the gains and is trading lower on the day at 9.3720
   
• Price action has been contained between cloud top and 200 DMA, at 9.4321 and 9.3579 respectively, which are strong resistance and support zones for the pair
   
• Daily techs look weak, further downside likely, pair slipping as we write, breaks below 200 DMA at 9.3579 could see falls extend to 9.2650 levels
   

 

Resistance Levels:
R1: 9.3813 (Daily Kijun)

R2: 9.3949 (Daily Tenkan)

R3:  9.4321 (cloud top)

Support Levels:

S1: 9.3579 (200 DMA)

S2: 9.3480 (Oct 26 low)

S3: 9.3454 (Oct 19 low)