Above 61.8% retracement on the weekly chart
The EURSEK broke above a topside trend line two week's ago and has been able to stay above this week after testing the line early on Monday. That line comes in at 10.40635. The current price is currently above that level at 10.4150.
Drilling to the 4-hour chart below, the pair on Monday stalled against the lower channel trend line and just ahead of the 100 bar MA on the 4-hour chart. That trend line is higher now at 10.379 and is the close risk for longs.
Below that level, and the area defined by the 100 bar moving average on the 4-hour chart at 10.35247 and the swing levels at the 10.3462-91, would be another key area. A break below would give the bulls a reason to think the waters are getting more muddy.
On the topside, get above the 10.4451 would a bullish signal and have traders looking toward the recent highs at 10.4784.
