FxWirePro: Swedish krona falls against euro after retail sales, trade balance data

• EUR/SEK is currently trading around 10.2378 levels.
   
• It made intraday high at 10.2463 and low at 10.1997 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 10.1997 mark.
   
• A daily close above 10.2031 is required to take the parity higher towards key resistances at 10.2960, 10.3396, 10.3567 and 10.4004 marks respectively.
   
• On the other side, a daily close below 10.2031 will take the parity down towards key supports at 10.1715, 10.1356 and 10.1125 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Sweden April retail sales m/m decrease to 0.6 % (forecast -0.1 %) vs previous 1.7 % (revised from 1.2 %).
   
• Sweden April retail sales y/y increase to 3.6 % vs previous 2.7 % (revised from 2.9 %).
   
• Sweden April trade balance decrease to -6.5 bln se vs previous 1.9 bln se (revised from 2.6 bln se).
   
• Sweden April exports (bln sek) decrease to 115.9 bln se vs previous 122 bln se (revised from 122.1 bln se).
   
• Sweden April imports (bln sek) increase to 122.4 bln se vs previous 120.1 bln se (revised from 119.5 bln se).

We prefer to take long position in EUR/SEK around 10.2220, stop loss 10.1997 and target 10.2960.

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