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Add as a preferred source on Google FxWirePro: USD/SEK hits 1-week trough, faces strong resistance at 21-EMA The Swedish Krona advanced to a 1-week high as the dollar index declined against a basket of currencies. The dollar slumped after Fed Chair Jerome Powell said the U.S. central bank would seek to keep inflation at 2 perce…
By FxWirePro Team Aug 28, 2020, 10:29 AM UTC
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The Swedish Krona advanced to a 1-week high as the dollar index declined against a basket of currencies.
The dollar slumped after Fed Chair Jerome Powell said the U.S. central bank would seek to keep inflation at 2 percent, on average.
USD/SEK trades 0.8 percent lower at 8.6492, having hit a low of 8.6191 earlier, its lowest since August 19.
Immediate resistance is located at 8.7570 (21-EMA), any close above could take it near 8.7768.
On the lower side, support is seen at 8.6101, break below could take it till 8.5972.
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