EUR/SEK has rebounded steadily after testing key assist on the decrease boundary of its long-term channel and is now approaching the essential 200-day shifting common. A protection of the 11.02 stage might pave the best way for additional beneficial properties towards 11.37 and doubtlessly the higher channel band at 11.48/11.52, Societe Generale’s FX analysts report.
Key assist at 11.02 in focus for EUR/SEK
“EUR/SEK examined the decrease boundary of a down-sloping channel drawn since 2023 at 10.66 in April and has advanced inside a gradual rebound. It has crossed a multi-month descending pattern line. The pair is now in neighborhood to the 200-DMA. If a short-term pullback develops, current pivot low of 11.02 could present assist.”
“Protection of this might result in continuation in up-move. Past current pivot excessive of 11.28, the pair might prolong the uptrend in the direction of 11.37 and the higher band of the channel at 11.48/11.52.”
