- The Swedish Krona rose, hovering towards a 3-week peak hit earlier in the week as investors awaited Riksbank rate decision due tomorrow.
- Sweden's central bank is likely to leave its key repo rate unchanged at -0.25 percent.
- EUR/SEK trades down at 10.7292, having hit a low of 10.7141 on Monday, its lowest since October 1.
- Technical indicators are bearish: RSI weak at 44.01, MACD supports downside and Stochs are at oversold levels.
- Immediate resistance is located at 10.7604, any close above could take it near 10.7790.
- On the lower side, support is seen at 10.7113, break below could take it till 10.6933.
Recommendation: Good to sell on rallies around 10.7352, with stop loss of 10.7604, and target price at 10.6933.
