FxWirePro: EUR/SEK stabilizes above 9.89 mark after Riksbank says rate cut probability rising

• EUR/SEK is currently trading around 9.8917 levels.
   
• It made intraday high at 9.8981 and low at 9.8780 levels.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 9.8950 is required to take the parity higher towards key resistance at 9.9145/9.9273/9.9402/9.9690/10.2473 levels.
   
• Alternatively, reversal from key resistance will take the parity down towards key supports at 9.8780, 9.8501, 9.8263, 9.8040 and 9.7402 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Yesterday Swedish Central Bank kept repo rate unchanged at -0.50 per cent.
   
• Swedish crown reverses gains to hit day's low of 9.8990 crowns per euro after Riksbank says rate cut probability rising.
   
• Sweden will release retail sales data at 0730 GMT.

We prefer to go long on EUR/SEK around 9.89 with stop loss at 9.8501 and target of 9.9402/9.9690.