FXStreet (Edinburgh) – The Swedish krona is rapidly appreciating vs. the euro on Tuesday, dragging EUR/SEK to test lows near 9.4400 the figure.
EUR/SEK weaker on IMF comments
The cross is surrendering yesterday’s gains after the IMF has emphasized the strong growth of the Nordic economy, warning at the same time that the Riksbank could find it hard to justify any intervention in SEK.
The cross keeps the upbeat tone despite today’s intraday decline, advancing for the second consecutive week after visiting recent lows around 9.3100 the figure.
EUR/SEK significant levels
At the moment the cross is losing 0.54% at 9.4623 with the next support at 9.4021 (low Sep.28) followed by 9.3713 (low Sep.25) and then 9.3252 (low Sep.23). On the flip side, a breakout of 9.5279 (high Sep.29) would aim for 9.5387 (high Aug.31) and finally 9.5490 (high Sep.1).
(Market News Provided by FXstreet)