FxWirePro: EUR/SEK halts 3-day losing streak, finds strong support at 55-EMA
Monday, April 27, 2020 11:46 AM UTC
- The Swedish Krona declined, halting a 3-day rally as the euro strengthened across the board.
- On Friday, the pair fell to a near 6-week low but found strong support at 55-EMA.
- Investors now await European Central Bank's policy meeting on Thursday, where it is likely to extend its debt purchases to include junk bonds.
- EUR/SEK trades 0.1 percent up at 10.8607, having hit a low of 10.8252 in the prior session, its lowest since March 16.
- 55-EMA continues to act as major support.
- Immediate resistance is located at 10.8921 (21-EMA), any close above could take it near 10.9085.
- On the lower side, support is seen at 10.8191 (55-EMA), break below could take it till 10.8080.