USD/SEK 1H Chart: Pair guided by bearish patterns

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

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

USD/SEK was dominated by an ascending channel in force since late August. This long-term pattern was breached mid-December, thus following by a period of decline down to the 8.14 mark. This bearish momentum has allayed during the previous week; nevertheless, the pair still remains tended slightly southwards. 

The Greenback managed to breach the combined resistance of the 55– and 100-hour SMAs early today. Technical indicators favour further fall within this session and even beyond. Thus, it is likely that the given currency halts near the 200-hour SMA and re-tests the aforementioned shorter-term moving averages. 

By and large, the senior channel is expected to hold, thus guiding the pair within the following week or two.

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