USD/SEK trades sideways

Source: Dukascopy Bank SA


Since October 20, the USD/SEK currency exchange rate has been trading between the resistance of the 8.6230/8.6290 zone and the support of 8.5035/8.5100. Future scenarios were based upon whether or not the rate passes the support zone or breaks resistance.

A surge that would break the resistance zone of 8.6230/8.6290 zone could reach the 200-four hour simple moving average at 8.6550. Above the SMA, the rate might reach for the October high level zone at 8.7900/8.8275.

On the other hand, a decline below the 8.5035/8.5100 zone might find support at 8.4500, at the late June high and low level zone. Namely, the 8.4500 mark slowed down a surge on June 16 and 17, and afterwards, reversed a decline of the rate on June 24-28.
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Tue, 09 Nov 2021 10:01:14 GMT

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