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24 Apr 2013
Forex: EUR/SEK dips to session lows
FXstreet.com (Barcelona) - The Swedish krona is sharply appreciating against the single currency on Wednesday, partially trimming yesterday’s losses after the unemployment in the Scandinavian economy ticked higher during March.
According to Olivier Korber at Societe Generale, “EUR/SEK is currently attempting to break a downtrend resistance line which started at the last top in May… Confirmation of the break could open the door to 8.70 initially”.
At the moment, the pair is down 0.68% at 8.5818 with the next support at 8.5120 (MA100d) followed by 8.5050 (MA200d) and finally 8.4899 (high Feb.21).
On the upside, a breakout of 8.6489 (high Apr.24) would bring 8.6535 (high Feb.1) and then 8.7190 (2013 high Jan.21).
According to Olivier Korber at Societe Generale, “EUR/SEK is currently attempting to break a downtrend resistance line which started at the last top in May… Confirmation of the break could open the door to 8.70 initially”.
At the moment, the pair is down 0.68% at 8.5818 with the next support at 8.5120 (MA100d) followed by 8.5050 (MA200d) and finally 8.4899 (high Feb.21).
On the upside, a breakout of 8.6489 (high Apr.24) would bring 8.6535 (high Feb.1) and then 8.7190 (2013 high Jan.21).