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FxWirePro: EUR/SEK at 3-month peak, jump till 10.7010 likely 

  • The Swedish Krona slumped an over 3-month trough following soft GDP growth data.
     
  • Sweden's gross domestic product expanded 0.8 percent in the fourth quarter of 2019 over the same quarter of the previous year, its lowest annual growth rate in five quarters. 
     
  • EUR/SEK trades 0.5 percent up at 10.6761, having hit a high of 10.6961 earlier, its highest since November 20.
     
  • Technical indicators are bullish: RSI strong at 64, MACD supports upside and Stochs are at overbought levels. 
     
  • Immediate resistance is located at 10.7010, any close above could take it near 10.7030 / 10.7104.
     
  • On the lower side, support is seen at 10.6125, break below could take it till 10.6013.

Recommendation: Good to buy on dips around 10.6268, with stop loss of 10.6125 and target price at 10.7010. 

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