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FxWirePro: EUR/SEK tumbles to 3-week trough, intraday bias bearish

EUR/SEK trades 0.3 percent down at 10.7402, having hit a low of 10.7400 earlier, its lowest since October 1. Technical indicators are bearish: RSI weak at 45.43, MACD supports downside and Stochs are biased lower. Immedi…

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FxWirePro: EUR/SEK tumbles to 3-week trough, intraday bias bearish
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  • EUR/SEK trades 0.3 percent down at 10.7402, having hit a low of 10.7400 earlier, its lowest since October 1.
     
  • Technical indicators are bearish: RSI weak at 45.43, MACD supports downside and Stochs are biased lower.
     
  • Immediate resistance is located at 10.7870, any close above could take it near 10.8071. 
     
  • On the lower side, support is seen at 10.7301, break below could take it till  10.7085.

Recommendation: Good to sell on rallies around 10.7604, with stop loss of 10.7781, and target price at 10.7085.

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