FxWirePro: USD/SEK slumps near 1-week low, outlook remains bearish
The Swedish Krona rallied to a near 1-week peak, as the greenback plunged against a basket of currencies. The dollar tumbled to an over 3-week low as worries about the U.S. response to China’s proposed security law for H…
The Swedish Krona rallied to a near 1-week peak, as the greenback plunged against a basket of currencies.
The dollar tumbled to an over 3-week low as worries about the U.S. response to China’s proposed security law for Hong Kong stoked a more cautious tone into the markets.
USD/SEK trades 0.3 percent down at 9.5786, having hit a low of 9.5611 earlier, its lowest since May 21.
Immediate resistance is located at 9.6343 (7-DMA), any close above could take it near 9.6993 (200-DMA).
On the lower side, support is seen at 9.5525, break below could take it till 9.5363.
