29 Jan 2015
EUR/SEK around 9.3400 on data
FXStreet (Edinburgh) - The Swedish krona is gathering pace vs. its European peer on Thursday, with EUR/SEK navigating around the 9.3400 area.
EUR/SEK weaker after data
The cross remains in the red territory after Consumer Confidence in the Swedish economy ticked a tad lower to 98.6 in January from 99.0 in the previous month. Further data in Sweden showed retail sales contracting at a monthly pace of 0.6% during December, taking the annual expansion to 3.6% from 4.6% previous.
EUR/SEK levels to watch
As of writing the cross is retreating 0.42% at 9.3397 with the next support at 0.2656 (low Jan.28) ahead of 9.2410 (low Dec.1) and finally 9.2190 (low Nov.21). On the flip side, a break above 9.3608 (high Jan.27) would open the door to 9.3665 (high Jan.26) and then 9.4735 (high Jan.19).
EUR/SEK weaker after data
The cross remains in the red territory after Consumer Confidence in the Swedish economy ticked a tad lower to 98.6 in January from 99.0 in the previous month. Further data in Sweden showed retail sales contracting at a monthly pace of 0.6% during December, taking the annual expansion to 3.6% from 4.6% previous.
EUR/SEK levels to watch
As of writing the cross is retreating 0.42% at 9.3397 with the next support at 0.2656 (low Jan.28) ahead of 9.2410 (low Dec.1) and finally 9.2190 (low Nov.21). On the flip side, a break above 9.3608 (high Jan.27) would open the door to 9.3665 (high Jan.26) and then 9.4735 (high Jan.19).