USD/SEK 1H Chart: Rate tests 55-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Buy Buy Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

Upside risks prevailed in the market at the beginning of July, thus sending the US Dollar 3.10% higher against the Swedish Krona. Half of these gains were erased during the previous trading week, as the pair had returned near the 8.80 mark at the time of this analysis. 

The Greenback has already fallen below the 100– and 200-period (4H) SMAs. If the 55-day one likewise surrenders at 8.7950, it might be considered that a medium-term decline is in sight. 

The following trading days are likely to come with a slight correction north until the monthly PP and the 55-period SMA at 8.85, as bears could lack the necessary momentum to dash through the 55-day SMA at first. This up-move might also lead the rate until a trend-line located near 8.92 is reached.

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