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The poor Swedish confidence data this......>

EURO-SEK
EURO-SEK: The poor Swedish confidence data this morning has led to EURSEK
touching its highest level since October. EURSEK has been on an uptrend since
breaking above the 50-dma. The moves higher have been accelerated since breaking
above the 100- and 200-dmas over the past couple of sessions.
- We have also broken above (and yesterday closed above) the 38.2% retracement
of 10.1257-10.7291 which comes in at 10.3562 and at the time of writing we have
fallen back below the Dec 12 high of 10.3776.
- Above here resistance will be around the 10.4100/50 area ahead of the 50%
retracement at 10.4274. We traded above this level at the end of October after
the Riksbank were on hold. We have not closed above this level since Oct 10.

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