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FxWirePro: Swedish Krona continues to add strength against euro, good to sell on rallies

EUR/SEK is currently trading around 9.2255 levels. It made intraday high at 9.2335 and low at 9.2208 levels. Intraday bias remains bearish till the time pair holds key resistance at 9.2757 levels. Key support falls at 9.…

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FxWirePro: Swedish Krona continues to add strength against euro, good to sell on rallies
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  • EUR/SEK is currently trading around 9.2255 levels.
     
  • It made intraday high at 9.2335 and low at 9.2208 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.2757 levels.
     
  • Key support falls at 9.2050 and a sustained break below tests 9.1423 marks.
     
  • On the other side, a daily close above 9.2656 will turn the bias slightly bullish and drag the parity around 9.2774/ 9.2871 and 9.3082 marks respectively.
     
  • In addition, 20D, 30D and 55D EMA heads down and signals bearish trend.

We prefer to take short position in EUR/SEK around 9.23, stop loss 9.2757and target 9.2050/ 9.1423 marks.

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