FxWirePro: Swedish krona rejects key resistance at 9.7973 mark, short term trend reversal likely

• EUR/SEK is currently trading around 9.7515 levels.
   
• It made intraday high at 9.7797 and low at 9.7462 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 9.80 mark.
   
• A sustained close above 9.7973 tests key resistances around 9.8295, 9.8346 and 9.8555 marks respectively.
   
• Alternatively, a daily close below 9.7757 will tests key supports at 9.7540, 9.7328, 9.7221, 9.7006, 9.6774 and 9.6543 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position in EUR/SEK around 9.7650, stop loss 9.7973 and target of 9.7293.