EUR/SEK retreats from highs, around 9.4300

The Swedish krona is slightly up vs. its European peer on Tuesday, sending EUR/SEK to the area near the 9.4300 handle.

EUR/SEK bid on data

The cross has picked up further pace after Producer Prices in the Nordic economy have come in flat on a monthly basis in May and contracted at an annualized pace of 4.5%.

Further data saw Retail Sales jumping 1.7% inter-month and 4.6% on a yearly basis, bettering April’s reading, while the trade balance figures showed a deficit of SEK 2.10 billion in May.

In the meantime, today’s upside momentum in the common currency keeps sustaining the up move in the cross

EUR/SEK levels to consider

As of writing the cross is losing 0.04% at 9.4260 and a break below 9.3615 (low Jun.24) would aim for 9.3258 (20-day sma) and finally 9.2457 (low Jun.24). On the other hand, the next up barrier aligns at 9.4579 (high Jun.27) followed by 9.5914 (high Jun.24) and then 9.6163 (high Feb.11).