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12 Aug 2014
EUR/SEK reverts the dip
FXStreet (Edinburgh) - After dropping to the area of 9.1800, the EUR/SEK is now managing to return above the 9.1900 handle.
EUR/SEK hit by CPI figures
Consumer prices in the Swedish economy ticked lower during July, contracting 0.3% inter-month and coming in flat over the last twelve months, although analysts ruled out any impact on the Riksbank views. “In three months’ time we expect the krona to have gained some momentum and see EUR/SEK at 9.20 (8.90). From a medium- to long-term perspective, PPP, current account, public finances, growth outlook etc unambiguously suggest that the krona will appreciate over time”, signaled analysts at the Nordic Danske Bank.
EUR/SEK significant levels
The pair is now losing 0.03% at 9.1957 with the next support at 9.1788 (daily cloud base) and then 9.1470 (low Jul.28). On the upside, a break above 9.2465 (high Aug.11) would expose 9.2668 (high Aug.8).
EUR/SEK hit by CPI figures
Consumer prices in the Swedish economy ticked lower during July, contracting 0.3% inter-month and coming in flat over the last twelve months, although analysts ruled out any impact on the Riksbank views. “In three months’ time we expect the krona to have gained some momentum and see EUR/SEK at 9.20 (8.90). From a medium- to long-term perspective, PPP, current account, public finances, growth outlook etc unambiguously suggest that the krona will appreciate over time”, signaled analysts at the Nordic Danske Bank.
EUR/SEK significant levels
The pair is now losing 0.03% at 9.1957 with the next support at 9.1788 (daily cloud base) and then 9.1470 (low Jul.28). On the upside, a break above 9.2465 (high Aug.11) would expose 9.2668 (high Aug.8).