FxWirePro: USD/SEK breaks below 200-DMA, outlook remains bearish
Tuesday, May 19, 2020 12:36 PM UTC
- The Swedish Krona rallied to an over 2-month peak as the greenback eased against a basket of currencies.
- The dollar index declined to a 1-week low after encouraging data from a COVID-19 vaccine trial by U.S. drugmaker Moderna added to the optimism.
- USD/SEK trades 0.4 percent down at 9.6561, having hit a low of 9.6324 earlier, its lowest since March 16.
- Immediate resistance is located at 9.7322, any close above could take it near 9.7570.
- On the lower side, support is seen at 9.6197, break below could take it till 9.6000.