© Dukascopy Bank SA
The USD/SEK currency pair has been developing in a rather mixed environment for a third consecutive week in a row, even though initially it made a successful bounce to the south from the upper trend-line of the pattern. The present trading level is located just below the weekly R1 resistance line at 7.2606, which can limit the pair from going to the north in the foreseeable future.
Technical studies for this particular cross do not send any clear signals, as four-hour and weekly ones are bullish, while daily technicals give a distinct signal to sell the Greenback versus Swedish Krona. SWFX traders, in turn, support the latter ones, as more than 56% of them hold short positions on this currency pair.
© Dukascopy Bank SA