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13 Sep 2013
EUR/SEK testing highs after GDP data
FXstreet.com (Edinburgh) -The Swedish krona is rapidly depreciating against the single currency on Friday, lifting the EUR/SEK 5-big figures to the boundaries of 8.7100.
EUR/SEK boosted by data
The GDP figures for the second quarter disappointed investors in the Nordic economy, contracting 0.2% inter-quarter and 0.1% over the last twelve months vs. the median at -0.1% and 0.6%, respectively. The cross is thus reverting recent losses although it keeps the negative results for the second consecutive week.
EUR/SEK relevant levels
The cross is now up 0.20% at 8.6896 with the next resistance at 8.7204 (high Sep.10) ahead of 8.7827 (high Sep.6) and finally 8.7875 (high Aug.2). On the flip side, a breakdown of 8.6560 (MA100d) would expose 8.6530 (low Aug.28) and then 8.6189 (low Aug.15).
EUR/SEK boosted by data
The GDP figures for the second quarter disappointed investors in the Nordic economy, contracting 0.2% inter-quarter and 0.1% over the last twelve months vs. the median at -0.1% and 0.6%, respectively. The cross is thus reverting recent losses although it keeps the negative results for the second consecutive week.
EUR/SEK relevant levels
The cross is now up 0.20% at 8.6896 with the next resistance at 8.7204 (high Sep.10) ahead of 8.7827 (high Sep.6) and finally 8.7875 (high Aug.2). On the flip side, a breakdown of 8.6560 (MA100d) would expose 8.6530 (low Aug.28) and then 8.6189 (low Aug.15).