EUR/SEK clinches highs near 9.64 post-CPI

The Swedish Krona lost the grip following the release of inflation figures in Sweden, pushing EUR/SEK to test fresh daily highs in the 9.6400 neighbourhood.

EUR/SEK higher on CPI

SEK depreciated further after inflation figures tracked by the CPI rose less than expected during last month. In fact, consumer prices rose at an annualized 1.3% and came in flat on a monthly basis, while CPIF (CPI at constant interest rate) rose 1.5% over the last twelve month and 0.0% MoM.

In the meantime, the cross is extending its positive streak for the fourth session so far today, albeit retreating from fresh YDT peaks near the 9.6400 handle recorded in the wake of today’s release.

Looking ahead, the ZEW survey is up next in the euro bloc while the Riksbank meeting is expected on April 27.

EUR/SEK levels to consider

As of writing the cross is up 0.04% at 9.6235 and a surpass of 9.6407 (2017 high Apr.11) would aim for 9.6647 (high Dec.26 2016) and finally 9.8487 (high Dec.16). On the other hand, the next support lines up at 9.5962 (200-day sma) followed by 9.5757 (100-day sma) and then 9.5458 (20-day sma).