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FxWirePro: Swedish krona falls after lower than expected retail sales data

Monday, August 29, 2016 8:22 AM UTC

EUR/SEK is currently trading around 9.5002 levels.
It made intraday high at 9.5068 and low at 9.4809 levels.
Intraday bias remains bullish till the time pair holds key support at 9.4800 marks.
A daily close below 9.48 will take the parity down towards key supports at 9.4637, 9.4406, 9.4217, 9.4046, 9.3637, 9.3434, 9.3267, 9.2928, 9.2790 and 9.2582 marks respectively.
On the other side, a daily close above 9.50 is required to take the parity higher towards key resistances at 9.5183, 9.5282 and 9.5363 marks.
Swedish July retail sales +1.1 pct year/year.
Swedish July retail sales -0.9 pct month/month.
Swedish July trade balance +0.5 bln SEK.

We prefer to take long position in EUR/SEK around 9.50, stop loss 9.4800 and target 9.5596/9.5950 marks.

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FxWirePro: Swedish krona falls after lower than expected retail sales data

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