FxWirePro: USD/SEK rebounds from 2-year low, finds support at 8.7100
The Swedish Krona eased from a 2-year high as the dollar rebounded against a basket of currencies. The dollar index surged as investors awaited a Fed meeting that begins later on Tuesday and Friday’s deadline for U.S. Co…
The Swedish Krona eased from a 2-year high as the dollar rebounded against a basket of currencies.
The dollar index surged as investors awaited a Fed meeting that begins later on Tuesday and Friday’s deadline for U.S. Congress to extend unemployment benefits.
Markets seem to have ignored upbeat Swedish retail sales, which rose by 3.5 percent from a year earlier in June, following a 2.7 percent growth in the previous month.
USD/SEK trades 0.7 percent up at 8.7536, having hit a low of 8.7101 earlier, its lowest since July 2018.
Immediate resistance is located at 8.8249 (5-DMA), any close above could take it near 8.8693 (7-EMA).
On the lower side, support is seen at 8.7115, break below could take it till 8.6808.
