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EUR/SEK off highs, near 9.4400

FXStreet (Edinburgh) - After posting session highs near 9.4800 the figure, EUR/SEK has now receded some ground and is now hovering over 9.4400.

EUR/SEK stronger post-data

The cross has seen its daily upside accelerated after the Swedish docket has disappointing expectations during August. In fact, Retail Sales in the Nordic economy contracted at a monthly pace of 1.7% vs. a 0.1% gain initially forecasted. On a yearly basis, sales have expanded 1.0% down from the previous 6.1% advance.

Further data saw the trade deficit sinking to SEK 3.60 billion during the same period vs. July’s SEK 0.30 billion deficit.

EUR/SEK important levels

As of writing the cross is up 0.23% at 9.4405 facing the next hurdle at 9.4839 (high Sep.28) followed by 9.5490 (high Sep.1) and then 9.6133 (high Aug.27). On the other hand, a breakdown of 9.3975 (low Sep.28) would expose 9.3713 (low Sep.25) and finally 9.3439 (low Sep.23).

EUR/SEK undergoes corrective process

EUR/SEK undergoes corrective process
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