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Forex: EUR/SEK remains flat around 8.5760 after data

By FXstreet.com,  January 10, 2013, 04:00:00 AM EDT

FXstreet.com (Barcelona) - The Swedish krona posted no reaction after mixed data out of the inflation figures and the industrial production in the Scandinavian economy. In fact, the CPI rose 0.3% MoM and contracted 0.1% on a yearly basis during December. The manufacturing sector is extending its negative momentum after contracting 1.3% MoM and 4.3% YoY.

As of writing the cross is posting meagre gains at 8.5731 or 0.01% facing the next resistance at 8.6060 (high Dec.31) ahead of 8.6320 (MA30d) and finally 8.6510 (high Dec.24).
On the downside, a breach of 8.5070 (Lower Bollinger) would aim towards 8.5060 (low Jan.4) and then 8.5000 (low Nov.8).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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