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- USD/SEK currently trading at 8.4430 levels.
- It made intraday high at 8.4535 and low at 8.4335 levels.
- In the data front from Sweden, Country released its Unemployment rate with positive numbers at 7.5% m/m v/s 7.6% expected.
- Overall bias remains bearish till the time pair holds key resistance at 8.5188 levels.
- Alternatively, recent downfall will take the parity around key support area at 8.3382 levels.
- Key resistance levels are seen at 8.5188 and 8.5336 levels.
- Major support levels are seen at 8.4199, 8.4260 and 8.4078 levels.
We prefer to take short position in USD/SEK around 8.4450, stop loss 8.5188 and target 8.4078 levels.
