USD/SEK 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SEK has been volatile recently; however, unusually large swings performed by the pair did not prevented it from determining its direction in the very beginning of the month. Having reached a three-week high, the pair started to move lower that entailed a sharp decline developed within the corridor of two downward sloping lines.
Currently, the pair is rebounding after it slumped to a two-week low of 6.4289 but may halt its advance that is confirmed by technical indicators that are pointing to a weakness of the pair in the long-term.
© Dukascopy Bank SA
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