USD/SEK 4H Chart: Fundamental move breaks pattern

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

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

As the US Dollar has strengthened during the last week, the USD/SEK pair's channel down pattern, which represented the decline of March, was broken. This event has pressed for a early review of the currency exchange rate's charts.

First of all it has to be mentioned that the Fibonacci retracement levels, which are measured by connecting the March high and low levels, are heavily affect the pair's movements.

In regards to the near future the pair was expected to get squeezed in the 8.2050-8.2150 zone. Afterwards a break out to the downside was more likely to occur.

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