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Add as a preferred source on Google FxWirePro: USD/SEK at 5-1/2 week peak; bias higher USD/SEK trades 0.1 percent up at 9.4988, having hit a 5-1/2 week peak earlier. Technical indicators continue to support upside: RSI strong at 59.61, bias remains bullish. Stochs are biased higher but overbought, a minor …
By FxWirePro Team Jul 29, 2019, 9:36 AM UTC
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USD/SEK trades 0.1 percent up at 9.4988, having hit a 5-1/2 week peak earlier.
Technical indicators continue to support upside: RSI strong at 59.61, bias remains bullish.
Stochs are biased higher but overbought, a minor dip likely.
Immediate resistance is located at 9.5310, break above could take it near 9.5529 (June 19 High).
On the downside, support is seen at 9.4744 (June 19 Low), break below could take it till 9.4457 (5-DMA)
Recommendation: Good to buy on dips around 9.4800, with stop loss of 9.4744, target price at 9.45529.
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