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19 Apr 2013
Forex: EUR/SEK extends its intraday decline
FXstreet.com (Barcelona) - After falling to weekly lows against the single currency in the vicinity of 8.5500, the Swedish krona found buying interest that is dragging the cross to the current session lows around 8.5050/5150.
“Riksbanken's Jansson continued the recent focus on SEK, albeit this time underlining that the krona is ‘historically weak’. We continue to look for SEK strength on a medium-term horizon, notwithstanding the notably more dovish Riksbanken stance adopted earlier this week”, commented S.Holbek, Senior Analyst at the Nordic lender Danske Bank.
At the moment, the cross is down 0.27% at 8.5114 with the next support at 8.4899 (high Feb.21) followed by 8.4585 (high Mar.25) and 8.4045 (MA10d).
On the flip side, a break above 8.5456 (high Apr.18) would open the door to 8.6400 (high Feb.8) and finally 8.6535 (high Feb.1).
“Riksbanken's Jansson continued the recent focus on SEK, albeit this time underlining that the krona is ‘historically weak’. We continue to look for SEK strength on a medium-term horizon, notwithstanding the notably more dovish Riksbanken stance adopted earlier this week”, commented S.Holbek, Senior Analyst at the Nordic lender Danske Bank.
At the moment, the cross is down 0.27% at 8.5114 with the next support at 8.4899 (high Feb.21) followed by 8.4585 (high Mar.25) and 8.4045 (MA10d).
On the flip side, a break above 8.5456 (high Apr.18) would open the door to 8.6400 (high Feb.8) and finally 8.6535 (high Feb.1).