- The Swedish Krona fell against the euro, halting a 3-day losing streak, as the greenback rebounded from recent lows.
- Last week, the pair declined to a near 1-week low but found strong support at 10.6113 (trendline joining 10.6019 and 10.6099)
- EUR/SEK trades 0.3 percent up at 10.6630, having hit a low of 10.6113 on Thursday, its lowest since September 6.
- RSI is weak at 47.01 and MACD support downside.
- Stochs indicate a bullish crossover and are likely to roll over from oversold levels.
- Immediate resistance is located at 10.6907 (21-EMA), close above could take it near 10.7321 (Aug. 22 High).
- On the lower side, support is seen at 10.6136 (trendline), break below could take it till 10.5902 (June 3 Low) /10.5646.
Recommendation: Good to buy on dips around 10.6420, with stop loss of 10.6285, target price at 10.6907.