FxWirePro: EUR/SEK retreats from 1-week low, finds support at 21-EMA
Wednesday, April 8, 2020 11:53 AM UTC
- The Swedish Krona eased, retreating from a 1-week peak hit in the prior session.
- On Tuesday, the pair slumped as low as 10.8613 but retraced to close above 21-EMA.
- Investors seem to have ignored upbeat Swedish household consumption figures, which increased 0.4 percent from a month earlier in February, up from an upwardly revised -0.3 percent in January.
- EUR/SEK trades 0.1 percent up at 10.9357, having hit a high of 11.0327 on Monday, its highest since March 31.
- Immediate resistance is located at 10.9900, any close above could take it near 11.0120.
- On the lower side, support is seen at 10.9095, break below could take it till 10.8950.