FxWirePro: USD/SEK near 2-month peak as Sweden's GDP eases, good to buy on dips 

• The Swedish Krona plunged to a near 2- month low following the release of worse-than-expected growth data. 
   
• Sweden's gross domestic product rose at an annualized rate of 1.4 percent in the second quarter, lower than 1.9 percent expected and previous reading of 2.1 percent.  
   
• On a quarterly basis, the economy's growth contracted -0.1 percent in Q2, after surging 0.6 percent in Q1 and below estimates of 0.2 percent expansion.  
   
• USD/SEK trades 0.7 percent up at 9.5500, having hit a high of 9.5527 earlier, its highest since May 31.
   
• The pair broke trendline resistance at 9.5202 (trendline joining 9.4996 and 9.4804) and is trading above the level. 
   
• Technical indicators support upside - RSI strong at 62.66, Stochs are biased higher, MACD supports uptrend.
   
• Immediate resistance is located at 9.5647 /  9.5901, break above could take it near 9.6147 (May 29 High).
   
• On the lower side, support is seen at 9.4599 (5-DMA), break below could take it till 9.4449 (7-EMA)

Recommendation: Good to buy on dips around 9.4700, with stop loss of 9.4450, target price at 9.5901.