EUR/SEK Technical Analysis: The cross is eroding the 200-day SMA at 10.3374. Targets recent tops around 10.3500

EUR/SEK is alternating gains with losses in the upper end of the weekly range in the 10.3300 region, where is located the key 200-day SMA.
Recently, poor data in the Scandinavian economy weighed on SEK and pushed the cross to multi-day peaks near the immediate target at/above 10.3500.
Further upside is still probable while above the 6-month support line, today at 10.2200, coincident with recent lows near 10.2000.
Volatility around SEK is expected to come from domestic politics and the likely rate hike by the Riksbank at some point by year-end or early 2019.

Pablo Piovano FXStreet

EUR/SEK daily chart

EUR/SEK

Overview:
    Today Last Price: 10.3339
    Today Daily change: -23 pips
    Today Daily change %: -0.0223%
    Today Daily Open: 10.3362
Trends:
    Previous Daily SMA20: 10.2949
    Previous Daily SMA50: 10.3419
    Previous Daily SMA100: 10.3867
    Previous Daily SMA200: 10.3312
Levels:
    Previous Daily High: 10.3405
    Previous Daily Low: 10.2506
    Previous Weekly High: 10.3507
    Previous Weekly Low: 10.2676
    Previous Monthly High: 10.5375
    Previous Monthly Low: 10.2863
    Previous Daily Fibonacci 38.2%: 10.3062
    Previous Daily Fibonacci 61.8%: 10.2849
    Previous Daily Pivot Point S1: 10.2777
    Previous Daily Pivot Point S2: 10.2192
    Previous Daily Pivot Point S3: 10.1878
    Previous Daily Pivot Point R1: 10.3676
    Previous Daily Pivot Point R2: 10.399
    Previous Daily Pivot Point R3: 10.4575

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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