FxWirePro: USD/SEK halts 4-day rally, minor support at 7-EMA
The Swedish Krona rallied, drifting further away from a near 1-month low hit last week as the dollar index declined across the board. The dollar retreated from recent peaks as demand for riskier currencies improved after…
The Swedish Krona rallied, drifting further away from a near 1-month low hit last week as the dollar index declined across the board.
The dollar retreated from recent peaks as demand for riskier currencies improved after the United States and China both hailed a phone call between their top trade officials as a success.
USD/SEK trades 0.4 percent lower at 8.7556, having hit a high of 8.8172 on Friday, its highest since July 27.
Immediate resistance is located at 8.8010, any close above could take it near 8.8276.
On the lower side, support is seen at 8.7336 (7-EMA), break below could take it till 8.7170 (21-DMA).
