FxWirePro: Swedish krona weakens sharply against euro ahead of consumer confidence data, hits fresh 1.9-years high
EUR/SEK is currently trading around 9.6424 levels. It made intraday high at 9.6450 and low at 9.6341 levels. Intraday bias remains bullish till the time pair holds key resistance at 9.5914 levels. A daily close below 9.5…
EUR/SEK is currently trading around 9.6424 levels.
It made intraday high at 9.6450 and low at 9.6341 levels.
Intraday bias remains bullish till the time pair holds key resistance at 9.5914 levels.
A daily close below 9.5914 will take the parity down towards key supports at 9.5717, 9.5611, 9.5461, 9.53, 9.5210, 9.5177, 9.5109, 9.4979, 9.4726, 9.4637, 9.4406, 9.4217, 9.4046, 9.3637, 9.3434, 9.3267, 9.2928, 9.2790 and 9.2582 marks respectively.
On the other side, a daily close above 9.6450 is required to take the parity higher towards key resistance at 9.6742.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Yesterday EUR/SEK hits fresh 1.9-years high at 9.6655, higher level since December, 2012.
Sweden will release consumer confidence data at 0700 GMT.
We prefer to go short on EUR/SEK around 9.6450, stop loss at 9.6655 and target of 9.6314/9.6109.
