FxWirePro: EUR/SEK slumps post Riksbank decision, further downside likely

Sweden's central bank held its benchmark repo rate at -0.35 percent as expected on Thursday, says ready to do more.

• The Riksbank has cut rates three times this year to boost prices, most recently in July when the central bank also expanded its bond buying programme
   
• SEK was slightly up before the Riksbank decision, but then spiked to highest level since late July post decision
   
• At the time of writing EUR/SEK was sharply down, trading at 9.4064, day's range 9.4802/9.3935
   
• Ichimoku cloud top by 9.3953 to offer immediate support, break below could take the pair to 9.3680 (200 DMA)