Forex: EUR/SEK bouncing off lows, eyes 8.7000

FXstreet.com (Barcelona) - The Swedish krona is losing ground against the euro on Thursday, after the better data out of the labor market in Sweden dragged the cross to sub 8.67 levels. In fact, the unemployment rate fell to 7.4% during December, bettering the 7.5% previous. Producer prices also ticked higher, 0.5% on a monthly basis and -2.4% YoY in the same period, vs. November's 0% and -3.1%, respectively.

At the moment, the pair is up 0.14% en 8.6930 facing the next hurdle at 8.7465 (high Dec.19) followed by 8.7636 (Upper Bollinger) and then 8.7770 (high Dec.18).
On the downside, a break below 8.6350 (MA30d) would expose 8.5900 (psychological level) and finally 8.5064 (Lower Bollinger).