Forex: EUR/SEK climbs to 8.6600

FXstreet.com (Barcelona) - The Swedish krona is extending its intraday depreciation against the single currency on Monday, quickly leaving behind the key 8.6500 figure after industrial production in the Scandinavian economy showed a hair of improvement, expanding 0.5% on a monthly basis and contracting 4.4% YoY during October, vs. September's -4.1% and -5.0% respectively. In the same direction, New Orders Manufacturing has contracted 2.1% on a yearly basis, up from previous -5.3%.

EURSEK is now advancing 0.33% at 8.6556 with the next resistance at 8.6785 (Upper Bollinger) ahead of 8.6850 (high Nov.20) and 8.7520 (high Jul.4).
On the downside, a violation of 8.5950 (low Dec.6) would bring 8.5900 (low Nov.29) and 8.5775 (Lower Bollinger).