FxWirePro: USD/SEK near 1-week peak on Sweden's downbeat inflation data

• The Swedish Krona fell to a near 1-week low following the release of Sweden's downbeat inflation figures.
   
• Sweden's consumer price index decreased 0.4 percent in August after posting a rise of 0.4 percent in July and below forecast of 0.2 percent gain. 
   
• On an annualised basis, the inflation rate declined to 1.4 percent in August from 1.7 percent in July and missing market expectations of 1.7 percent.
   
• USD/SEK trades 0.9 percent up at 9.7585, having hit a low of 9.5985 on Friday, its lowest since August 23.
   
• Technical indicators show bullish trend - RSI at 57.64 and Stochs are biased higher
   
• Immediate resistance is located at 9.7855 (Aug. 29 High), close above could take it near 9.8388 (Aug. 30 High). 
   
• On the lower side, major support is seen at 9.5835 (55-EMA), break below could take it till 9.4847 (August 14 Low). 

Recommendation: Good to buy on dips around 9.6737, with stop loss of 9.6506, target price at 9.7855