16 Feb 2015
EUR/SEK consolidating below 9.6000
FXStreet (Edinburgh) - The Swedish krona is posting marginal gains vs. the euro today, with EUR/SEK meandering below the 9.60 barrier.
EUR/SEK back from highs
The cross keeps correcting lower after recent peaks around 9.69 following the Riksbank rate cut and QE announcement. With inflation figures as now the main concern for the Swedish central bank, tomorrow’s CPI results in Sweden have grown in importance. Prior surveys expect consumer prices to have contracted 0.3% inter-month during January and 1.1% over the last twelve months.
EUR/SEK relevant levels
The cross is now retreating 0.11% at 9.5791 with the next support at 9.5280 (high Feb.9) ahead of 9.4650 (low Feb.12) and then 9.4330 (50-d MA). On the upside, a breakout of 9.6894 (high Feb.12) would expose 9.7297 (high Dec.16) and finally 9.7880 (high May.26 2010).
EUR/SEK back from highs
The cross keeps correcting lower after recent peaks around 9.69 following the Riksbank rate cut and QE announcement. With inflation figures as now the main concern for the Swedish central bank, tomorrow’s CPI results in Sweden have grown in importance. Prior surveys expect consumer prices to have contracted 0.3% inter-month during January and 1.1% over the last twelve months.
EUR/SEK relevant levels
The cross is now retreating 0.11% at 9.5791 with the next support at 9.5280 (high Feb.9) ahead of 9.4650 (low Feb.12) and then 9.4330 (50-d MA). On the upside, a breakout of 9.6894 (high Feb.12) would expose 9.7297 (high Dec.16) and finally 9.7880 (high May.26 2010).