- The Swedish Krona rallied to an over 1-month peak following Riksbank's policy meeting outcome.
- Sweden's central bank left its benchmark repo rate steady at 0 percent during its February 2020 meeting, in line with market expectations.
- The Riksbank raised its benchmark repo rate by 25bps to 0 percent during its December meeting, ending five years of negative interest rates.
- EUR/SEK trades 0.1 percent down at 10.5052, having hit a low of 10.5003 earlier, its lowest since January 9.
- Technical indicators are bearish: RSI weak at 42.16, MACD supports downside and Stochs are at oversold levels.
- Immediate resistance is located at 10.5242, any close above could take it near 10.5317.
- On the lower side, support is seen at 10.4948, break below could take it till 10.4885.
Recommendation: Good to sell on rallies around 10.5137, with stop loss of 10.5242 and target price at 10.4948.
