FxWirePro: Swedish Krona Gains ahead of CPI Data, Unemployment Rate Falls to 7.5 Pct

FxWirePro: Swedish Krona Gains ahead of CPI Data, Unemployment Rate Falls to 7.5 Pct

12 May 2016, 09:36
Roberto Jacobs
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FxWirePro: Swedish Krona Gains ahead of CPI Data, Unemployment Rate Falls to 7.5 Pct

  • EUR/SEK is currently trading around 9.2912 levels. 
  • It made intraday high at 9.3018 and low at 9.2832 levels. 
  • Intraday bias remains neutral for the moment. 
  • A sustained break above 9.2916 tests key resistances at 9.3495 (20D, 30D and 55D EMA cross over), 9.4682 (high of February 08, 2016) and 9.4942 marks. 
  • A daily close below 9.2744 will tests key supports at 9.2612, 9.2301 (January 07, 2016 low), 9.2050 (March 16, 2016), 9.1919 and 9.1416 marks. 
  • Today Sweden released unemployment rate with positive numbers to 7.5% m/m vs 7.8% previous release. 
  • Sweden will release CPI data at 0730 GMT. Market anticipates a decrease to 0.1% vs 0.5% previous release.

We prefer to take long position in EUR/SEK around 9.2850, stop loss 9.2750 and target 9.3495.

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