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- The Swedish Krona extended previous session rebounded from a record low as markets continued to digest better-than-expected inflation data.
- On Thursday, the pair retreated from an all-time high of 10.9333 to close lower at 10.8280, 0.89 percent down for the day.
- EUR/SEK trades 0.2 percent down at 10.8102, having hit an all-time high of 10.9333 on Wednesday.
- Technical indicators support downside on hourly charts: RSI weak at 29.70 and Stochs are biased lower.
- Immediate resistance is located at 10.8463, any close above could take it near 10.8641 (5-DMA).
- On the lower side, support is seen at 10.7951, break below could take it till 10.7799 / 10.7726 (21-EMA).
Recommendation: Good to sell on rallies around 10.8264, with stop loss of 10.8413, and target price at 10.7799.
