FxWirePro: USD/SEK halts 3-day rally, likely to break below 8.7000
The Swedish Krona nudged higher, after falling for thee straight sessions, as the greenback eased against a basket of currencies. The dollar index declined from a 1-week peak as sparring continued in the U.S. Congress ov…
The Swedish Krona nudged higher, after falling for thee straight sessions, as the greenback eased against a basket of currencies.
The dollar index declined from a 1-week peak as sparring continued in the U.S. Congress over extending fiscal stimulus.
Moreover, investors continued to digest upbeat Swedish household consumption data released yesterday, which surged 2.9 percent from the previous month in June, following an upwardly revised 2 percent increase in the previous month.
USD/SEK trades 0.5 percent lower at 8.7086, having hit a high of 8.7758 on Friday, its highest since August 4.
Immediate resistance is located at 8.7860, any close above could take it near 8.8068.
On the lower side, support is seen at 8.6855, break below could take it till 8.6580.
