30 Jul 2015
EUR/SEK sinks to 9.4300
FXStreet (Edinburgh) - The Swedish krona has rapidly appreciated vs. the euro on Thursday, dragging EUR/SEK to 2-day lows in the 9.4300 neighbourhood.
EUR/SEK lower on data
The cross slumped to session lows after the Swedish flash GDP figures surprised investors to the upside today. In fact, the economy expanded 1.0% inter-quarter during Q2 vs. 0.7% anticipated and 0.4% previous. On a yearly basis, the economy rose 3.0%, surpassing both expectations and Q1 print at 2.5%.
The cross is snapping a positive streak of seven sessions, which reached the 9.5300 area yesterday, levels last traded in late February.
EUR/SEK levels to consider
As of writing the cross is retreating 0.33% at 9.4568 with the next support at 9.4340 (low Jul.30) ahead of 9.4135 (low Jul.28) and finally 9.3884 (low Jul.24). On the flip side, a breakout of 9.5276 (high Jul.29) would aim for 9.5412 (high Feb.26) and then 9.5842 (high Feb.19).
EUR/SEK lower on data
The cross slumped to session lows after the Swedish flash GDP figures surprised investors to the upside today. In fact, the economy expanded 1.0% inter-quarter during Q2 vs. 0.7% anticipated and 0.4% previous. On a yearly basis, the economy rose 3.0%, surpassing both expectations and Q1 print at 2.5%.
The cross is snapping a positive streak of seven sessions, which reached the 9.5300 area yesterday, levels last traded in late February.
EUR/SEK levels to consider
As of writing the cross is retreating 0.33% at 9.4568 with the next support at 9.4340 (low Jul.30) ahead of 9.4135 (low Jul.28) and finally 9.3884 (low Jul.24). On the flip side, a breakout of 9.5276 (high Jul.29) would aim for 9.5412 (high Feb.26) and then 9.5842 (high Feb.19).