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- 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.
