- EUR/SEK is currently trading around 9.7422 levels.
- It made intraday high at 9.7530 and low at 9.7336 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 9.7572 mark.
- A sustained close above 9.7484 tests key resistances around 9.7572, 9.7644, 9.7806, 9.7999, 9.8295, 9.8346 and 9.8555 marks respectively.
- Alternatively, a daily close below 9.7484 will tests key supports at 9.7333, 9.7251, 9.7096, 9.6774 and 9.6543 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Sweden will release unemployment rate at 0730 GMT.
We prefer to take short position in EUR/SEK around 9.7455, stop loss 9.7572 and target of 9.7253/9.7096.
