EUR/SEK passes 2020 high level

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In November 2021, the EUR/SEK currency exchange rate found support in the 9.9000 level and started a surge. By mid-February, it was clear that the surge has taken the form of an ascending channel pattern. Most recently, the pair passed above the 2020 high level of 10.66, indicating that additional gains are possible.

If the Euro continues to surge against the Swedish Krona, the pair might encounter resistance in round exchange rate levels until it reaches the upper trend line of the channel up pattern.

However, a decline of the pair could find support in the 10.5000 mark and the lower trend line of the channel up pattern and the 50-day simple moving average.
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