- EUR/SEK is currently trading around 10.2273 levels.
- It made intraday high at 10.2476 and low at 10.2212 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 10.2993 mark.
- A daily close above 10.2411 is required to take the parity higher towards key resistances at 10.2993, 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 private production mm increase to 0.3 % (forecast 0.3 %) vs previous -0.1 % (revised from %).
- Sweden April industrial production val mm decrease to -2 % (forecast -0.2 %) vs previous 0.9 % (revised from 1.2 %).
- Sweden April construction production mm decrease to -1.2 % vs previous -0.9 % (revised from -0.8 %).
- Sweden April new orders manufacturing y/y increase to 3.2 % vs previous -3.2 % (revised from -1.9 %).
We prefer to take short position in EUR/SEK only below 10.2200, stop loss 10.2993 and target 10.1715.
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