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- EUR/SEK: The 2017 uptrend could be broken – Credit Suisse
EUR/SEK: The 2017 uptrend could be broken – Credit Suisse
FXStreet reports that analysts at Credit Suisse suggest that EUR/SEK may be building a significant top as the pair has retreated in the last weeks falling from the 19 March high at 11.534 to the current level at 10.564.
“We are seeing EUR/SEK breaking its uptrend for 2017, despite EUR weakness elsewhere. Below 10.5603 should confirm a clear break for a test of long-term price and ‘neckline’ support at 10.4327/10.4130.”
“A close below 10.4327 at any stage would mark a long-term top and core change of trend lower, with support then seen next at 10.1697.”
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