FxWirePro: Swedish krona falls after lower than expected industrial production data
EUR/SEK is currently trading around 9.4016 levels. It made intraday high at 9.4079 and low at 9.3775 levels. Intraday bias remains bullish till the time pair holds key support at 9.3636 marks. A daily close below 9.3636 …
EUR/SEK is currently trading around 9.4016 levels.
It made intraday high at 9.4079 and low at 9.3775 levels.
Intraday bias remains bullish till the time pair holds key support at 9.3636 marks.
A daily close below 9.3636 will take the parity down towards key supports at 9.3434, 9.3267, 9.2928, 9.2790 and 9.2582 marks respectively.
On the other side, a daily close above 9.42 is required to take the parity higher towards key resistances at 9.4399, 9.4462, 9.4572, 9.4682 (high of February 08, 2016) and 9.4942 marks.
Swedish industrial production -0.8 pct m/m in May vs forecast +0.3 pct.
Swedish industry orders -0.5 pct yr/yr in May.
Swedish service sector production +5.4 pct y/y in May - stats office.
We prefer to take long position in EUR/SEK around 9.40, stop loss 9.3636 and target 9.4399/ 9.4572 marks.
