FxWirePro: USD/SEK retreats from near 1-month peak, fails to sustain gains above 8.800
The Swedish Krona rallied, drifting away from a near 1-month low hit in the previous session as the dollar index eased across the board. The dollar declined as riskier currencies gained, with some analysts attributing th…
The Swedish Krona rallied, drifting away from a near 1-month low hit in the previous session as the dollar index eased across the board.
The dollar declined as riskier currencies gained, with some analysts attributing the improvement in sentiment to U.S. regulators approving a treatment for COVID-19 patients.
USD/SEK trades 0.3 percent lower at 8.7580, having hit a high of 8.8172 on Friday, its highest since July 27.
Immediate resistance is located at 8.8276, any close above could take it near 8.8545.
On the lower side, support is seen at 8.7191 (21-DMA), break below could take it till 8.7005 (5-DMA).
