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27 May 2015
EUR/SEK in weekly highs near 9.2700
FXStreet (Edinburgh) - The Swedish krona is sharply depreciating vs. the single currency today, pushing EUR/SEK to weekly tops near 9.2700.
EUR/SEK higher on Swedish data
The cross is gaining further traction today bolstered by the recovery in the euro across the global markets, which is offsetting the positive releases in the Nordic economy today.
In fact, Consumer Confidence in Sweden improved to 98.8 for the present month, followed by a climb to 100.5 in the Manufacturing Confidence. Further data saw the trade surplus ticking higher to SEK 5.70 billion during April, up from March’s SEK 3.80 billion.
EUR/SEK important levels
At the moment the cross is up 0.49% at 9.2592 and a break above 9.3380 (21-d MA) would expose 9.3685 (100-d MA) and finally 9.3732 (daily cloud top). On the downside, the initial support lines up at 9.2216 (low May 11) followed by 9.2130 (low May 8) and then 9.1310 (low Mar.16).
EUR/SEK higher on Swedish data
The cross is gaining further traction today bolstered by the recovery in the euro across the global markets, which is offsetting the positive releases in the Nordic economy today.
In fact, Consumer Confidence in Sweden improved to 98.8 for the present month, followed by a climb to 100.5 in the Manufacturing Confidence. Further data saw the trade surplus ticking higher to SEK 5.70 billion during April, up from March’s SEK 3.80 billion.
EUR/SEK important levels
At the moment the cross is up 0.49% at 9.2592 and a break above 9.3380 (21-d MA) would expose 9.3685 (100-d MA) and finally 9.3732 (daily cloud top). On the downside, the initial support lines up at 9.2216 (low May 11) followed by 9.2130 (low May 8) and then 9.1310 (low Mar.16).