EUR/SEK has staged an impressive rebound after forming a low near 9.86 earlier this month. Economists at Société Générale expect the pair to extend its move higher towards the 10.33 mark.
August peak at 10.33 is likely to be an important hurdle
“Ongoing up move could persist towards graphical levels of 10.33 representing peak of August. This is likely to be an important hurdle.”
“Failure to cross the 10.33 can result in an initial pullback towards the MA near 10.15/10.13.”
See: EUR/SEK to head higher towards 10.20 as Riksbank is unlikely to rescue the krona – ING