- The Swedish Krona rallied to a 7-1/2 month peak following better-than-expected inflation figures.
- Sweden's Consumer Price Index increased 0.1 percent in November over the previous month, while on annualized basis, the inflation rate rose 1.8 percent in November from 1.6 percent in the same month of the previous year.
- EUR/SEK trades 0.5 percent down at 10.4880, having hit a low of 10.4750, its lowest since end-April.
- Technical indicators are bearish: RSI weak at 35.14, Stochs are at overbought levels and MACD supports downside.
- Immediate resistance is located at 10.5538, any close above could take it near 10.5782.
- On the lower side, support is seen at 10.4561, break below could take it till 10.4325.
Recommendation: Good to sell on rallies around 10.5306, with stop loss of 10.5538, and target price at 10.4561.