FxWirePro: USD/SEK consolidates within ranges, investors await next catalyst
Monday, August 17, 2020 10:33 AM UTC
- The Swedish Krona continued to consoldiate within narrow ranges, as investors remained cautious ahead of the release of U.S. Federal Reserve minutes later this week.
- The U.S. Democratic Party’s nomination convention and a delay in U.S. fiscal stimulus kept a lid on sentiment.
- USD/SEK trades flat at 8.6864, having hit a low of 8.6516 on Thursday, its lowest since August 6.
- Immediate resistance is located at 8.7075 (7-EMA), any close above could take it near 8.7370.
- On the lower side, support is seen at 8.6580, break below could take it till 8.6390.