- The Swedish Krona advanced to a fresh 7-1/2 month peak as investors continued to digest yesterday's better-than-expected inflation figures.
- However, a rally in the euro ahead of the ECB policy meeting limited the upside in the Swedish currency.
- EUR/SEK trades 0.1 percent up at 10.4591, having hit a low of 10.4371 earlier, its lowest since mid-April.
- Technical indicators are turning bullish: RSI point north and Stochs likely to roll over from overbought levels.
- Immediate resistance is located at 10.4880, any close above could take it near 10.5096.
- On the lower side, support is seen at 10.4273, break below could take it till 10.4076.
Recommendation: Good to buy on dips around 10.4502, with stop loss of 10.4273 and target price at 10.4880.