FxWirePro: EUR/SEK weakens as Eurozone investor morale hits all-time low on coronavirus
The Swedish Krona surged, rebounding from a near 1-week low hit earlier in the session. The Swedish currency benefited as the euro declined after data showed investor morale in the eurozone plunged to an all-time low in …
The Swedish Krona surged, rebounding from a near 1-week low hit earlier in the session.
The Swedish currency benefited as the euro declined after data showed investor morale in the eurozone plunged to an all-time low in April and the bloc’s economy is in deep recession due to the coronavirus.
Sentix’s index for the eurozone fell to -42.9 from -17.1 in March.
EUR/SEK trades 0.2 percent down at 10.9702, having hit a high of 11.0327 earlier, its highest since March 31.
Immediate resistance is located at 11.0462, any close above could take it near 11.0794.
On the lower side, support is seen at 10.9261 (21-EMA), break below could take it till 10.9074.
