EUR/SEK: Upside parallels have emerged - Natixis

An upside channel has been in place in the daily chart for EUR/SEK cross since February 17 and upside parallels have emerged on the weekly chart, according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“Against this backdrop, the support at 9.7180 (daily parabolic) should hold over the next days and we favor another  test of a resistance at 9.8080 (daily Bollinger upper band). The break of this barrier would unleash added upside potential towards 9.8250-9.8330 (weekly Bollinger upper band), the 9.8580-9.87 thresholds (Fibonacci extensions) and the resistance at 9.93 (monthly Bollinger upper band). The supports lie at 9.7570, at 9.7180, at 9.6510-9.6630 and at 9.6175.”