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EURSEK has eased off Riksbank react........>

EURO-SEK
EURO-SEK: EURSEK has eased off Riksbank react highs of Sek10.6087 to hold
Sek10.5700/5800 ahead of the NY crossover. As expected the Riksbank left policy
on hold at -0.50% and in the accompanying statement pushed back its rate hike
forecast to 'in Dec, or Feb'. Dovish undertones were also noted, 'considerable
uncertainty regarding international developments' and 'risks of excessively low
inflation merit particular attention'. From a technical perspective SEK
maintains outright bearish signals with next resistance seen at Sek10.7291 from
the YTD high, above here opens long term uptrend resistance off the June 2012
high at Sek10.7488. Near-term support is seen at Sek10.4795 which represents the
50% retracement of Sek10.2299-10.7291, below here opens the 100-dma/Aug14 low
(Sek10.3694/10.3511), ahead of long term uptrend support off Jan lows at
Sek10.3321. Last Sek10.5767.
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