FxWirePro: USD/SEK plunges over 2-month low, likely to break below 9.6000
The Swedish Krona surged to an over 2-month peak as the greenback slumped against a basket of currencies. The dollar index plunged after data showed U.S. homebuilding declined by the most on record in April and permits f…
The Swedish Krona surged to an over 2-month peak as the greenback slumped against a basket of currencies.
The dollar index plunged after data showed U.S. homebuilding declined by the most on record in April and permits for future construction tumbled, highlighting fears of coronavirus crisis.
USD/SEK trades 0.5 percent down at 9.6277, having hit a low of 9.6240 earlier, its lowest since March 16.
Immediate resistance is located at 9.6986 (200-DMA), any close above could take it near 9.7285.
On the lower side, support is seen at 9.6000, break below could take it till 9.5830.
