OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/SEK in fresh highs post-Riksbank

FXStreet (Edinburgh) - The Swedish krona is rapidly depreciating vs. its European peer on Wednesday, lifting EUR/SEK to fresh daily peaks in the vicinity of 9.44.

EUR/SEK stronger on Riksbank

The cross has seen its upside boosted after the Riksbank has increased its monthly purchases of bonds to SEK 65 billion from SEK 45 billion. The Nordic central bank has also left its benchmark rate unchanged at -0.35%, in line with market expectations.

The recent dovish tone by the ECB at its meeting last week plus the strong performance of the krona as of late have prompted the Riksbank to extend its ongoing QE programme, exerting at the same time further selling pressure to SEK.

EUR/SEK levels to consider

At the moment the cross is up 0.27% at 9.4186 and a break above 9.4534 (50% Fibo of 9.6775-9.2293) would expose 9.5350 (high Sep.28) and then 9.6773 (2015 high Aug.28). On the other hand, the immediate support lines up at 9.3383 (low Oct.28) followed by 9.3351 (23.6% Fibo of 9.6775-9.2293) and then 9.2293 (monthly low Oct.13).

Gold/EUR back above 200-DMA

Gold prices in the EUR terms are back above the 200-DMA, but the gains are being capped around EUR 1060/Oz levels.
Read more Previous

EUR/USD fails once again at 1.1050, European stocks rally

The recent rally in EUR/USD stalled just ahead of hourly 50-SMA, with the major reverting to the red zone, as the European traders remain on the side-lines ahead of the Fed decision due later today.
Read more Next
Start livechat