EURSEK to revisit the 10.64/60 support zone – SocGen

EURSEK has embarked on a pullback. Economists at Société Générale note that the pair could fall to the 10.64/60 support zone.

Daily MACD is dipping within negative territory

“Daily MACD is dipping within negative territory denoting possibility of continuation in decline.”

“A revisit of the 200-Day Moving Average and projections at 10.64/10.60 is not ruled out. This is a potential support zone. Achievement of this can lead to a short-term bounce towards the recent lower peak at 10.94.”

See: EURSEK to see choppy activity around the 10.90 level – Rabobank