- The Swedish Krona slumped an over 3-month trough following soft GDP growth data.
- Sweden's gross domestic product expanded 0.8 percent in the fourth quarter of 2019 over the same quarter of the previous year, its lowest annual growth rate in five quarters.
- EUR/SEK trades 0.5 percent up at 10.6761, having hit a high of 10.6961 earlier, its highest since November 20.
- Technical indicators are bullish: RSI strong at 64, MACD supports upside and Stochs are at overbought levels.
- Immediate resistance is located at 10.7010, any close above could take it near 10.7030 / 10.7104.
- On the lower side, support is seen at 10.6125, break below could take it till 10.6013.
Recommendation: Good to buy on dips around 10.6268, with stop loss of 10.6125 and target price at 10.7010.