FxWirePro: USD/SEK at 1-week low, faces resistance at 21-EMA
The Swedish Krona rallied to a near 1-week peak as the dollar eased across the board. The greenback eased as global stocks recovered from early losses with investors broadly in consolidation mode before the November 3 U.…
The Swedish Krona rallied to a near 1-week peak as the dollar eased across the board.
The greenback eased as global stocks recovered from early losses with investors broadly in consolidation mode before the November 3 U.S. presidential election.
Markets refrained from placing big bets as fading hopes for a U.S. coronavirus aid package combined with rising infections in Europe kept the overall mood cautious.
USD/SEK trades 0.4 percent lower at 8.7904, having hit a high of 8.8946 on Thursday, its highest since October 8.
Immediate resistance is located at 8.8569 (21-EMA), any close above could take it above 8.8811 (55-EMA).
On the lower side, support is seen at 8.7559, break below could take it till 8.7392.
