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FxWirePro: Swedish krona strengthens against euro, faces strong support at 9.5565 mark

EUR/SEK is currently trading around 9.5732 levels. It made intraday high at 9.6067 and low at 9.5711 levels. Intraday bias remains bearish till the time pair holds key resistance at 9.6122 levels. A sustained close above…

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FxWirePro: Swedish krona strengthens against euro, faces strong support at 9.5565 mark
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  • EUR/SEK is currently trading around 9.5732 levels.
     
  • It made intraday high at 9.6067 and low at 9.5711 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.6122 levels.
     
  • A sustained close above 9.6037 tests key resistances 9.6122, 9.6374, 9.6592 and 9.6797 marks respectively.
     
  • Alternatively, a daily close below 9.6037 will tests key supports at 9.5711, 9.5565, 9.5399, 9.5228, 9.5098, 9.4852, 9.4652 and 9.4310 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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