| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇘ | ⇗ | ⇗ |
The US Dollar has been appreciating gradually against the Swedish Krona since the beginning of September. This movement has been bounded in the rising wedge pattern.
As apparent on the chart, the USD/SEK currency pair is trying to surpass the resistance level formed by the monthly PP at 9.7288. Given that the pair is supported by the 55-, 100– and 200-period SMAs (4H time-frame chart), it is likely that some upside potential could prevail in the market. The pair could breach the given pattern north and target the psychological level at 9.9000.
However, if the given resistance holds, this advance might not be immediate. It is unlikely that bears could prevail in the market, and the exchange rate could decline lower than 9.6084 due to the support level formed by the monthly S1.