EUR/SEK: Race higher could persist gradually towards 11.10 – SocGen

FXStreet Insights Team FXStreet

EUR/SEK broke out above a multi-month trend line resulting in a move towards 11.10 in October. Economists at Société Générale expect the pair to advance nicely towards 11.10, then 11.26.

Upward momentum prevails

“Currently a phase of pullback is underway however the pair has so far successfully defended that support line at 10.68/10.63.”

“Daily MACD has entered positive territory denoting prevalence of upward momentum.”

“Holding above 10.68/10.63, the up move could persist gradually towards 11.10 and projections of 11.26.”

See – EUR/SEK: Krona to weaken over the coming quarters – Danske Bank

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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