FxWirePro: USD/SEK hovers towards 1-week trough, likely to break below 21-DMA
The Swedish Krona surged, hovering towards an over 1-week peak hit in the previous session following weakness in the greenback. The dollar index eased as investors awaited the U.S. Consumer Price Index for August, which …
The Swedish Krona surged, hovering towards an over 1-week peak hit in the previous session following weakness in the greenback.
The dollar index eased as investors awaited the U.S. Consumer Price Index for August, which is expected to show the cost of living rose 0.3 percent month-on-month, following July's 0.6 percent rise.
USD/SEK trades 0.3 percent lower at 8.7388, having hit a low of 8.6843 the day before, its lowest since September 2.
On Thursday, the pair fell below the 8.7000 handle but retraced to close nearly 0.3 percent higher at 8.7677.
Immediate resistance is located at 8.7936, any close above could take it near 8.8170.
On the lower side, support is seen at 8.7157 (21-DMA), break below could take it till 8.6895.
