FxWirePro: USD/SEK off 1-week peak, faces resistance at 21-DMA
The Swedish Krona surged by more than 1 percent, retreating from a 1-weak low hit earlier in the session. The Swedish currency appreciated as the greenback eased after the World Health Organization said some treatments a…
The Swedish Krona surged by more than 1 percent, retreating from a 1-weak low hit earlier in the session.
The Swedish currency appreciated as the greenback eased after the World Health Organization said some treatments appear to be limiting the severity or length of the COVID-19 respiratory disease.
Slight positive coronavirus news limits the greenback's appeal as a safe-haven currency as investors eye riskier asset
USD/SEK trades 1.05 percent down at 9.7705, having hit a high of 9.9114 earlier, its highest since May 4.
Major resistance is seen at 21-DMA.
Immediate resistance is located at 10.6468, any close above could take it near 10.6627.
On the lower side, support is seen at 10.5713, break below could take it till 10.5559.
