FxWirePro: USD/SEK erases early gains, faces strong resistance at 21-EMA
Monday, June 29, 2020 12:33 PM UTC
- The Swedish Krona edged up, hovering towards a 1-week peak hit last week as the greenback eased from recent highs
- The greenback against a basket of currencies traded 0.3 percent lower at 97.21, having touched a low of 96.39 on Tuesday, its lowest since June 11.
- USD/SEK trades 0.3 percent down at 9.2946, having hit a high of 9.4799 earlier in the month, its highest since May 29.
- The pair rose as high as 9.3482 earlier in the session but ran into strong resistance at 21-EMA to turn lower for the day
- Immediate resistance is located at 9.3703 (21-EMA), any close above could take it near 9.3972.
- On the lower side, support is seen at 9.2697, break below could take it till 9.2439.