- The Swedish Krona consolidated within narrow ranges, as investors awaited Riksbank's rate decision.
- Sweden's central bank raised its benchmark repo rate by 25bps to 0 percent during its December meeting, ending five years of negative interest rates.
- EUR/SEK trades flat at 10.5639, having hit a low of 10.5269 on Wednesday, its lowest since January 24.
- Technical indicators are turning bearish: RSI weak at 49.67, MACD supports downside and Stochs on the verge of a bearish crossover.
- Immediate resistance is located at 10.5995 (10-DMA), any close above could take it near 10.6108.
- On the lower side, support is seen at 10.5425, break below could take it till 10.5372.
Recommendation: Good to sell on rallies around 10.5660, with stop loss of 10.5789 and target price at 10.5372.
