7 Apr 2015
EUR/SEK off lows, back above 9.34
FXStreet (Edinburgh) - The Swedish krona is gathering pace vs. the euro on Tuesday, dragging EUR/SEK to 3-day lows near the 9.3200 handle.
EUR/SEK down on data, EUR
The cross is quickly losing ground today amidst a generalized offered tone around the single currency. In addition, Swedish releases gave extra legs to the krona after Markit’s Services PMI came in at 57.2 in March vs. February’s 56.7 and Industrial Production contracted 0.1% inter-month in February, easing from the deeper contraction of 1.3% seen during January.
EUR/SEK relevant levels
The cross is now losing 0.24% at 9.3474 with the next support at 9.3217 (low Apr.7) ahead of 9.2821 (10-d MA) and then 9.2813 (200-d MA). On the other hand, a breakout of 9.3525 (high Mar.26) would expose 9.3610 (high Mar.18) and finally 9.3677 (100-d MA).
EUR/SEK down on data, EUR
The cross is quickly losing ground today amidst a generalized offered tone around the single currency. In addition, Swedish releases gave extra legs to the krona after Markit’s Services PMI came in at 57.2 in March vs. February’s 56.7 and Industrial Production contracted 0.1% inter-month in February, easing from the deeper contraction of 1.3% seen during January.
EUR/SEK relevant levels
The cross is now losing 0.24% at 9.3474 with the next support at 9.3217 (low Apr.7) ahead of 9.2821 (10-d MA) and then 9.2813 (200-d MA). On the other hand, a breakout of 9.3525 (high Mar.26) would expose 9.3610 (high Mar.18) and finally 9.3677 (100-d MA).