FxWirePro: Swedish Krona appreciates despite lower than expected retail sales data, likely to sell on rallies

• EUR/SEKis currently trading around 9.2563 levels.
   
• It made intraday high at 9.2814 and low at 9.2511 levels.
   
• Today Sweden released retail sales data with negative numbers at -0.2% m/m vs 1.1% m/m previous release.
   
• In addition, trade balance came at -0.20B vs 1.5B previous data.
   
• Intraday bias remains bearish till the time pair holds key resistance at 9.2656 levels.
   
• Alternatively, current rebound from 9.2931 will likely to take the parity down towards key support at 9.2243/ 9.2166 marks.
   
• A daily close above 9.2718 will turn the bias slightly bullish and drag the parity up around 9.2774/ 9.2871 and 9.3082 marks respectively.

We prefer to take short position in EUR/SEK around 9.2604, stop loss 9.2656 and target 9.2243 marks.