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FxWirePro: Swedish krona falls sharply against euro after CPI data, hits lowest level since December 2009

  • EUR/SEK is currently trading around 10.3547 levels.
     
  • It made intraday high at 10.3763 and low at 10.2926 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 10.2497 marks.
     
  • A daily close above 10.2948 is required to take the parity higher towards key resistances at 10.3780, 10.4365, 10.4568, 10.4849 and 10.5195 marks respectively.
     
  • On the other side, a daily close below 10.2948 will take the parity down towards key supports at 10.2728, 10.2497, 10.2116, 10.1715 and 10.1125 marks respectively.
     
  • Sweden March CPIF m/m decrease to 0.3 % (forecast 0.4 %) vs previous 0.7 %.
     
  • Sweden March CPIF y/y increase to 2 % (forecast 2.1 %) vs previous 1.7 %.
     
  • Sweden March CPI m/m decrease to 0.3 % (forecast 0.4 %) vs previous 0.7 %.
     
  • Sweden March house prices increase to -1 %.

We prefer to take long position in EUR/SEK around 10.3420, stop loss 10.2728 and target 10.3780/10.3954.

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