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27 Mar 2015
EUR/SEK drops to lows near 9.3100
FXStreet (Edinburgh) - The Swedish krona is now appreciating vs. the euro on Friday, sending EUR/SEK to test session lows around the 9.3100 handle.
EUR/SEK weaker on euro, data
The renewed softness surrounding the single currency plus auspicious data from retail sales in Sweden is collaborating with the current downside. In fact, retail sales grew 0.2% on a monthly basis during February, matching forecasts, and they expanded 4.8% over the last twelve months vs. consensus at 3.5%.
The positive releases today add further strength to the krona, something that carries the potential to make the Riksbank uncomfortable regarding its current monetary stance.
EUR/SEK important levels
The cross is now losing 0.40% at 9.3117 and a breach of 9.2795 (200-d MA) would open the door to 9.2750 (low Mar.25) and then 9.2590 (10-d MA). On the upside, the initial hurdle lines up at 9.3320 (high Mar.25) followed by 9.3495 (high Mar.20) and finally 9.3610 (high Mar.18).
EUR/SEK weaker on euro, data
The renewed softness surrounding the single currency plus auspicious data from retail sales in Sweden is collaborating with the current downside. In fact, retail sales grew 0.2% on a monthly basis during February, matching forecasts, and they expanded 4.8% over the last twelve months vs. consensus at 3.5%.
The positive releases today add further strength to the krona, something that carries the potential to make the Riksbank uncomfortable regarding its current monetary stance.
EUR/SEK important levels
The cross is now losing 0.40% at 9.3117 and a breach of 9.2795 (200-d MA) would open the door to 9.2750 (low Mar.25) and then 9.2590 (10-d MA). On the upside, the initial hurdle lines up at 9.3320 (high Mar.25) followed by 9.3495 (high Mar.20) and finally 9.3610 (high Mar.18).