- The Swedish Krona rose against the euro, extending gains for the third straight session on Sweden's upbeat GDP growth rate data.
- The Swedish economy advanced 0.1 percent on quarter in the three months June, higher than a preliminary estimate and market expectations of a 0.1 percent contraction, the same pace in the previous period.
- On an annual basis, the Gross Domestic Product expanded 1 percent in the second quarter over the same quarter of the previous year.
- On Thursday, the pair declined to a near 1-week low but found support at 10.6125 (trendline joining 10.6019 and 10.6099)
- EUR/SEK trades 0.05 percent down at 10.6371, having hit a low of 10.6113 on Thursday, its lowest since September 6.
- Technical indicators support bearish trend - RSI weak at 44.06, MACD support downside and Stochs are in oversold levels.
- Immediate resistance is located at 10.6967 (21-EMA), close above could take it near 10.7321 (Aug. 22 High).
- On the lower side, support is seen at 10.6120, break below could take it till 10.5902 (June 3 Low).
Recommendation: Good to sell on rallies around 10.6420, with stop loss of 10.6516, target price at 10.6120 / 10.5902