FXWIREPRO: Swedish Krona Falls After Lower Than expected Industrial Production Data
- EUR/SEK is currently trading around 9.2607 levels.
- It made intraday high at 9.2671 and low at 9.2450 levels.
- Today Sweden released industrial production data with negative numbers at 0.1% m/m vs 0.2% previous release.
- In addition, Industrial orders falls to 2.0% vs 4.3% previous release.
- Pair fails to break key resistance at 9.2676 and supported above 9.2600 marks.
- Intraday bias remains bearish for the moment.
- On the top side key resistances are seen at 9.2718, 9.2774, 9.2871 and 9.3082 marks.
- A daily close below 9.2129 will drag the parity down towards key supports at 9.2050/9.1471 marks.
- Important to note here that 20D, 30D and 55D EMA heads down and signals bearish trend.
We prefer to take short position in EUR/SEK around 9.2650, stop loss 9.2750 and target 9.2050 marks.
The material has been provided by InstaForex Company - www.instaforex.com