EUR/SEK flat around 9.50 post-data

The Swedish Krona is trading almost unchanged vs. its European peer on Monday, sending EUR/SEK to the area of 9.5000.

EUR/SEK bounces off 9.4850

The cross has quickly reversed the drop to daily highs in the mid-9.4800s after Retail Sales in Sweden have contracted 0.9% inter-month in July and gained 1.1% on an annualized basis.

Further data saw the trade surplus coming down to SEK 0.50 million in July from June’s SEK 0.60 million.

Ahead in the week, Manufacturing PMI for the month of August is due on Thursday while Current Account figures are expected on Friday.

EUR/SEK levels to consider

As of writing the cross is losing 0.03% at 9.4989 and a breakdown of 9.4599 (55-day sma) would open the door to 9.4337 (low Aug.24) and finally 9.4003 (low Aug.11). On the other hand, the next up barrier is located at 9.5754 (resistance line off 2016 high) followed by 9.6056 (high Aug.2) and then 9.6163 (2016 high Feb.11).