FxWirePro: USD/SEK finds support at 21-EMA, stay long

 

• The Swedish Krona eased, reversing most of its previous session gains as the greenback bounced back from recent lows. 
   
• USD/SEK trades 0.5 percent up at 9.5899, having hit a low of 9.5239 in the previous session, its lowest since July 30. 
   
• Technical indicators are bullish, with the RSI at 58.10 and Stochs showing bullish crossover.
   
• Immediate resistance is located at 9.6230 (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 9.5188 (21-EMA), break below could drag it till 9.4887 (21-DMA).

Recommendation: Good to buy on dips around 9.5300, with stop loss of 9.5188 and target price at 9.6230.