FxWirePro: Swedish krona strengthens against euro on robust PPI data

• EUR/SEK is currently trading around 10.3224 levels.
   
• It made intraday high at 10.3650 and low at 10.3183 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 10.4050 mark.
   
• A daily close above 10.3491 is required to take the parity higher towards key resistances at 10.3650, 10.3926, 10.4050 and 10.4214 marks respectively.
   
• On the other side, a daily close below 10.3491 will take the parity down towards key supports at 10.2883, 10.2530, 10.2310 and 10.1961 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Sweden May 2018 PPI y/y increase to 6.3.
   
• Sweden May 2018 PPI m/m increase to 1.4.

We prefer to take short position in EUR/SEK around 10.3300, stop loss 10.3650 and target 10.2883.