FxWirePro: USD/SEK rebounds from 2-1/2 year low, likely to break above 5-DMA
The Swedish Krona declined, retreating from an over 2-1/2 year high hit earlier in the week as the greenback rose against a basket of currencies. The dollar index steadied after several U.S. states imposed restrictions t…
The Swedish Krona declined, retreating from an over 2-1/2 year high hit earlier in the week as the greenback rose against a basket of currencies.
The dollar index steadied after several U.S. states imposed restrictions to curb the spread of the coronavirus as hospitalisations soared, highlighting the difficulty in containing the virus as winter in the Northern Hemisphere approaches.
The greenback against a basket of currencies traded 0.2 percent up at 92.94, having touched a low of 92.13 on Monday, its lowest since September 1.
USD/SEK trades 0.3 percent higher at 8.6390, having hit a low of 8.5532 on Monday, its lowest since 26 April 2018.
Immediate resistance is located at 8.6778, any close above could take it above 8.7000.
On the lower side, support is seen at 8.5532, break below could take it till 8.5310.
