- The Swedish Krona surged following better than expected household consumption figures.
- Sweden's household consumption rose 0.5 percent from a month earlier in December 2019, following an upwardly 0.1 percent increase in November.
- EUR/SEK trades 0.1 percent down at 10.5612, having hit a low of 10.5269 on Wednesday, its lowest since January 24.
- Technical indicators are turning bearish: RSI weak at 49.61, MACD supports downside and Stochs on the verge of a bearish crossover.
- Immediate resistance is located at 10.5983 (10-DMA), any close above could take it near 10.6211.
- On the lower side, support is seen at 10.5426, break below could take it till 10.5372.
Recommendation: Good to sell on rallies around 10.5679, with stop loss of 10.5835 and target price at 10.5372.
