FxWirePro: Swedish krona appreciates against euro after industrial production data

• EUR/SEK is currently trading around 9.5461 levels.
   
• It made intraday high at 9.5530 and low at 9.5388 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 9.5154 marks.
   
• A sustained break above 9.5390 tests key resistances 9.5668, 9.5913 and 9.6098 marks respectively.
   
• Alternatively, a daily close below 9.5390 will tests key supports at 9.5229, 9.5048, 9.4959, 9.4652 and 9.4366 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Swedish services PMI 59.8 points in February (vs 61.1 previous release).
   
• Swedish industrial production +2.0 pct mo/mo in January vs forecast +2.0 pct in poll.
   
• Swedish industrial production +1.3 pct yr/yr in January.
   
• Swedish industry orders 0.0 pct yr/yr in January.

We prefer to go short on EUR/SEK around 9.5420, stop loss at 9.5668 and target of 9.5154.