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Add as a preferred source on Google FxWirePro: USD/SEK extends gains, buy on dips USD/SEK trades 0.05 percent up at 9.5630, having hit a low of 9.5239 last week, its lowest since July 30. Momentum indicators show a bullish trend, with RSI higher at 55.73 levels and Stochs showing bullish crossover. Im…
By FxWirePro Team Aug 13, 2019, 10:11 AM UTC
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USD/SEK trades 0.05 percent up at 9.5630, having hit a low of 9.5239 last week, its lowest since July 30.
Momentum indicators show a bullish trend, with RSI higher at 55.73 levels and Stochs showing bullish crossover.
Immediate resistance is located at 9.6130 (trendline joining 9.7000 and 9.6427), close above could take it near 9.6512 /9.7000 (August 1 High).
On the lower side, support is seen at 9.5225 (21-EMA), break below could drag it till 9.4983 (21-DMA). Any close below 9.4983 targets 9.4676 (55-EMA).
Recommendation: Good to buy on dips around 9.5300, with stop loss of 9.5188 and target price at 9.6130.
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