FxWirePro: EUR/SEK Fails to Sustain Above Key Resistance at 9.2916, Intraday Bias Remains Bearish
11 May 2016, 11:16
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FxWirePro: EUR/SEK Fails to Sustain Above Key Resistance at 9.2916, Intraday Bias Remains Bearish
- EUR/SEK is currently trading around 9.2877 levels.
- It made intraday high at 9.2895 and low at 9.2654 levels.
- Intraday bias remains bearish for the moment.
- A daily close below 9.2612 will tests key supports at 9.2301 (January 07, 2016 low), 9.2050 (March 16, 2016), 9.1919 and 9.1416 marks.
- Alternatively, a sustained break above 9.2916 tests key resistances at 9.3495 (20D, 30D and 55D EMA cross over), 9.4682 (high of February 08, 2016) and 9.4942 marks.
We prefer to take short position in EUR/SEK around 9.2916, stop loss 9.2965 and target 9.2612.
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