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EUR/SEK points to the lower end of the range – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Chief Analyst at Danske Bank Jens Pedersen believes the cross could slip towards the lower band of the range in the next weeks.

    Key Quotes

    “EUR/SEK fell sharply on Tuesday following the higher-than-expected March inflation data”.

    “The data only make us more confident that the Riksbank will stay put next week. We still see EUR/SEK in a broad 9.10-9.50 range but clearly with the bias shifting to the lower end of the range”.

    “Near-term psychological support comes in at 9.15 ahead of the low from 30 December last year at 9.1220, which was the day when the Riksbank issued a statement warning against SEK strength”.

    “A break through 9.15 could trigger verbal intervention from the Riksbank again protecting the downside”.
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