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Swedish krona hits fresh monthly high against Euro after better than expected GDP data

  • In addition year on year GDP data released at 4.5% Y/Y vs 3.5% median forecast.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.4005 levels.
     
  • Alternatively, current downfall will take the parity towards key support levels at 9.2555/9.1421 thereafter.

We prefer to take short position in EUR/SEK around 9.3350, stop loss 9.3869 and target 9.2555 levels.

 

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