EUR/SEK drops after Riksbank kept rates unchanged

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The EUR/SEK pair fell to a low of 9.2851 after the Riksbank kept rates unchanged at -0.35% and maintained bond purchases will continue in line with Oct decision.

    EUR/SEK down 0.38%

    The currency pair is down 0.38% around 9.2876 levels. The policy statement revealed the bank sees repo rate average at -0.41% in Q4 2016 (Prev -0.41%). The bank maintained it is still highly prepared to act and ready to intervene in the FX markets.

    The SEK was on a 5-day losing streak ahead of the Riksbank decision. The immediate focus now is on the Eurozone and German Zew surveys due later today.

    EUR/SEK Technical Levels

    The immediate support is seen at 9.2616 (Nov 6 low), under which the pair could drop to 9.2290 (Oct 13 low). On the other hand, resistance is seen at 9.3049 (Nov 25 high) would expose 9.3680 (Dec 3 high).
    For more information, read our latest forex news.

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