SEK is expected to gather some traction within a month’s view, taking EUR/SEK to the 10.10 area, suggested Valtteri Ahti, Chief Strategist at Danske Bank.
“We said last week that EUR/SEK above 10.20 was technically prone for a correction given RSI indicating the cross was overbought”.
“Whether the ongoing correction will run further will, not least, be dependent on Wednesday’s Swedish housing and inflation data, where we see the former as potentially SEK positive and the latter as SEK negative”.
“We target EUR/SEK at 10.10 in 1M and 10.20 in 3M”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.