Swedish Krona likely to appreciate on the back of positive inflation data

• USD/SEK currently trading at 8.4855 levels. 
   
• It made intraday high at 8.5186 and low at 8.4458 levels. 
   
• In the data front from Sweden, Country released its CPI data with positive numbers at 0.8% y/y v/s 0.1% previous released.
   
• In addition, CPIF at 1.6% y/y v/s 0.9% previous released.
   
• Overall bias remains bearish till the time pair holds key resistance at 8.5336 levels.
   
• Alternatively, recent downfall will take the parity around key support area at 8.3382 levels.
   
• Key resistance levels are seen at 8.5186 and 8.5336 levels.
   
• Major support levels are seen at 8.4480 and 8.4078 levels.

We prefer to take short position in USD/SEK around 8.4850, stop loss 8.5336 and target 8.4078 levels.