2016.05.2504:35:00UTC+00Fxwirepro: Swedish Krona Erases Previous Loss Against Euro, Intraday Bias Remains Bearish

• EUR/SEK is currently trading around 9.2589 levels.
   
• It made intraday high at 9.2762 and low at 9.2545 levels.
   
• Yesterday Sweden released unemployment data with positive numbers at 7.3% m/m vs 7.7% m/m previous release.
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 9.26 will take the parity down towards key supports at 9.2301 (January 07, 2016 low), 9.2050 (March 16, 2016), 9.1919 and 9.1416 marks.
   
• Alternatively, reversal from key support tests key resistances at 9.3028, 9.3262, 9.3781(May 19, 2016 high), 9.3967, 9.4102, 9.4682 (high of February 08, 2016) and 9.4942 marks.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.