USD/SEK 1H Chart: Channel Up

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Source: Dukascopy Bank SA
USD SEK launched a second attack at the significant 9.8810 level in a channel up pattern, but the area has been holding strong and now appears to be on its way to cause a break below the bottom trend-line of the formation. The flat motion might, however, be enough to let the pair above the strong area without jeopardising the channel, but we will only see if that is the case around 9.0781, the bottom bound of the pattern which will either cause a bounce or break and lead to a steep slip below the trend-line.
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