Forex: EUR/SEK spiked 8.7000 after Riksbank (Barcelona) - The Swedish krona dipped to the 8.6300 region soon after the Riksbank left the repo rate unchanged at 1.25%, but it has quickly reversed direction after the Nordic central bank announced that it expects the rate to be at 1.20% towards the fourth quarter of 2012, down from 1.30 in its previous assessment.

Continuing with the data in Sweden, Producer Price index has contracted 0.7% in September, from -0.5% in the previous print. On a yearly basis, the index has remained at -1.9%.

At the moment, EUR/SEK is up 0.02% at 8.6735 facing the next resistance at 8.6950 (high Oct.12) followed by 8.7117 (Upper Bollinger) then 8.7143 (MA200d) and 8.7520 (high Jul.4).
On the downside, a penetration of 8.6220 (low Oct.24) would bring 8.5973 (low Oct.23) then 8.5690 (low Oct.22) and 8.5476 (low Oct.19).