- EUR/SEK is currently trading around 9.5865 levels.
- It made intraday high at 9.5919and low at 9.5662 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 9.5804 tests key resistances 9.6129, 9.6291, 9.6335, 9.6592 and 9.6797 marks respectively.
- Alternatively, a daily close below 9.5804 will tests key supports at 9.5565, 9.5399, 9.5228, 9.5098, 9.4852, 9.4652 and 9.4310 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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
