EUR/SEK 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/SEK set a new half-year low on the daily chart in early February, but managed to abandon the area to show a more promising outlook on the hourly chart. A channel up put an end to the small-scale down-wave and will require some more tests to confirm its significance. The pair is currently squeezed in between several levels mid-pattern and we expect the motion to remain northward-directed until the upper trend-line is reached at 9.5466. After the current corrective area is overstepped, 9.5316 and 9.5414 will be the main levels to watch on the pair's way up.
© Dukascopy Bank SA
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