Swedish Krona: Weakens against Euro – Societe Generale
The post Swedish Krona: Weakens against Euro – Societe Generale appeared on BitcoinEthereumNews.com. Societe Generale’s Kenneth Broux highlights EUR/SEK reclaiming its 200-day moving average and breaking above a base, signalling a short-term uptrend towards 11.11. The analysis points to first support at 11.00 and suggests that defending this level could extend gains, with next objectives at the upper boundary of a longer-term descending channel around 11.30/11.33. EUR/SEK uptrend with channel objectives “EUR/SEK reclaimed the 200-DMA last month; this MA had acted as a crucial hurdle in previous rebound attempts.” “The pair recently broke out above the upper limit of a base denoting onset of a short-term uptrend and marched towards 11.11.” “The upper part of the base at 11.00 could be the first support. Defence of this may lead to a continuation of the up move. “ “Beyond 11.11, the next objectives could be located at the upper boundary of the descending channel drawn since 2023 at 11.30