EUR/SEK seen at 10.10 in 1-month – Danske Bank

SEK is expected to gather some traction within a month’s view, taking EUR/SEK to the 10.10 area, suggested Valtteri Ahti, Chief Strategist at Danske Bank.

Key Quotes

“We said last week that EUR/SEK above 10.20 was technically prone for a correction given RSI indicating the cross was overbought”.

“Whether the ongoing correction will run further will, not least, be dependent on Wednesday’s Swedish housing and inflation data, where we see the former as potentially SEK positive and the latter as SEK negative”.

“We target EUR/SEK at 10.10 in 1M and 10.20 in 3M”.