5 Mar 2015
EUR/SEK dips to lows on data
FXStreet (Edinburgh) - The Swedish krona is now gathering further pace vs. the euro, dragging EUR/SEK to a visit of the mid-9.2000s area, or session lows.
EUR/SEK in multi-month troughs
The cross is testing levels last seen in mid-November around 9.2050 after Industrial Production surpassed expectations in Sweden, expanding 1.0% inter-month during January vs. 0.6% previously estimated; on a yearly basis, industrial production grew 0.8%, reverted the previous drop of 1.8%. Adding to the upbeat release in the sector, Industrial New Orders rose 8.9% YoY vs. the significant contraction of 12.0% in the previous month.
EUR/SEK levels to watch
As of writing the cross is down 0.23% at 9.2057 with the next support at 9.1600 (low Nov.6) ahead of 9.1400 (low Oct.17) and finally 9.1249 (61.8% of 8.7511-9.7297). On the upside, a break above 9.2648 (hourly high Mar.4) would expose 9.2661 (200-d MA) and finally 9.3275 (high Mar.3).
EUR/SEK in multi-month troughs
The cross is testing levels last seen in mid-November around 9.2050 after Industrial Production surpassed expectations in Sweden, expanding 1.0% inter-month during January vs. 0.6% previously estimated; on a yearly basis, industrial production grew 0.8%, reverted the previous drop of 1.8%. Adding to the upbeat release in the sector, Industrial New Orders rose 8.9% YoY vs. the significant contraction of 12.0% in the previous month.
EUR/SEK levels to watch
As of writing the cross is down 0.23% at 9.2057 with the next support at 9.1600 (low Nov.6) ahead of 9.1400 (low Oct.17) and finally 9.1249 (61.8% of 8.7511-9.7297). On the upside, a break above 9.2648 (hourly high Mar.4) would expose 9.2661 (200-d MA) and finally 9.3275 (high Mar.3).