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Free AccessEURSEK has eased off Riksbank react........>
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.