FxWirePro: USD/SEK hovers towards 3-week peak, likely to hold gains above 8.9000
The Swedish Krona declined, hovering towards a 3-week low hit last week as the greenback gained against a basket of currencies. The dollar index surged as investors remained wary of the results of upcoming U.S. president…
The Swedish Krona declined, hovering towards a 3-week low hit last week as the greenback gained against a basket of currencies.
The dollar index surged as investors remained wary of the results of upcoming U.S. presidential elections and as a surge in COVID-19 cases and renewed lockdowns in some nations raised economic concerns.
The greenback against a basket of currencies traded 0.05 percent up at 94.10, having touched a high of 94.28 earlier, its highest since September 30.
USD/SEK trades 0.2 percent higher at 8.9031, having hit a high of 8.9484 on Thursday, its highest since October 7.
Immediate resistance is located at 8.9650, any close above could take it above 8.9829.
On the lower side, support is seen at 8.8558 (55-EMA), break below could take it till 8.8237 (21-EMA).
