- The Swedish Krona eased after rising to a 1-week peak in the previous session on better-than-expected industrial inventories data.
- EUR/SEK trades 0.1 percent up at 10.6572, having hit a low of 10.6417 on Friday, its lowest since November 8.
- Technical indicators are bullish on hourly charts: RSI strong at 50.02, Stochs are biased higher and MACD supports upside.
- Immediate resistance is located at 10.6761 (10-DMA), any close above could take it near 10.6847 (5-DMA).
- On the lower side, support is seen at 10.6297 (200-DMA), break below could take it till 10.6106 (trendline joining 10.6019 and 10.6085).
Recommendation: Good to buy on dips around 10.6500, with stop loss of 10.6297 and target price at 10.6847.
