USD/SEK 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuySell
Aggregate⇗⇗⇘

[ANNOUNCE] Since the beginning of January, the USD/SEK currency pair has been trading upwards, supported by an ascending trend line. [/ANNOUNCE] 

It is likely that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 8.2950/8.3440 range. Thus, some upside potential could prevail in the market. In this case the rate could target the Fibo 61.80% at 8.8452 in the medium term. 

In the meantime, note that the currency pair could face the resistance level—the monthly R1 at 8.4896. Thus, the pair could bounce off and re-test the psychological level at 8.1500.

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