EUR/SEK sinks to lows below 9.6600

The Swedish Krona is now seeing some fresh buyers and dragging EUR/SEK to fresh daily lows in sub-9.6600 levels.

EUR/SEK offered post data

SEK is gathering further traction today following upbeat results from the Swedish industrial sector, with industrial production expanding more than expected 2.1% on a monthly basis in May and jumping 8.0% over the last twelve months.

Further data saw industrial new orders expanding 7.6% on a year to May while services PMI ticked lower to 57.3 during last month (from 57.9)

In the meantime, SEK is regaining some ground after two consecutive declines today, coming down from lows near 9.7000 vs. the euro after yesterday’s decision by the Riksbank to leave its repo rate unchanged at -0.50%.

EUR/SEK levels to consider

As of writing the cross is losing 0.11% at 9.6605 and a breakdown of 9.6518 (200-day sma) would aim for 9.6353 (100-day sma) and then 9.6074 (low Jul.3). On the upside, the immediate barrier is located at 9.6999 (high Jul.4) seconded by 9.7092 (55-day sma) and finally 9.7365 (21-day sma).