29 Apr 2015
EUR/SEK drops to 9.25 on Riksbank
FXStreet (Edinburgh) - The Swedish krona is picking up pace vs. the single currency on Wednesday, dragging EUR/SEK to test session lows around the 9.2500 handle.
EUR/SEK weaker post-Riksbank decision
The cross dips to multi-day lows after the Riskbank left its monetary policy unchanged in today’s meeting, with the benchmark rate at -0.25%. The move caught markets off-guard, as the broad consensus was expecting a rate cut of 25 bps.
Further data showed the Household Lending Growth growing 6.4% on a year to March vs. 6.2% previous.
EUR/SEK important levels
At the moment the cross is losing 0.62% at 9.2935 and a breakdown of 9.2500 (low Apr.29) would expose 9.2250 (low Apr.16) and then 9.1310 (low Mar.16). On the upside, the initial resistance lines up at 9.3746 (high Apr.29) followed by 9.3940 (high Apr.23) and finally 9.3970 (high Apr.7).
EUR/SEK weaker post-Riksbank decision
The cross dips to multi-day lows after the Riskbank left its monetary policy unchanged in today’s meeting, with the benchmark rate at -0.25%. The move caught markets off-guard, as the broad consensus was expecting a rate cut of 25 bps.
Further data showed the Household Lending Growth growing 6.4% on a year to March vs. 6.2% previous.
EUR/SEK important levels
At the moment the cross is losing 0.62% at 9.2935 and a breakdown of 9.2500 (low Apr.29) would expose 9.2250 (low Apr.16) and then 9.1310 (low Mar.16). On the upside, the initial resistance lines up at 9.3746 (high Apr.29) followed by 9.3940 (high Apr.23) and finally 9.3970 (high Apr.7).