Riksbank announced its monetary policy decision today at 8:30 am GMT. The Swedish central bank was expected to deliver a 75 basis point rate hike, to 2.50%. Those expectations were met with Riksbank deciding on the second 75 bp increment in a row. EURSEK dipped below 50% retracement in a knee-jerk move but has quickly recovered and is now trading little changed compared to pre-announcement levels. As such, trading range marked with a 38.2% retracement at the topside and a 50% retracement at the downside was upheld.
Source: xStation5
