FxWirePro: USD/SEK eases towards over 2-year low, outlook remains bearish
Wednesday, August 19, 2020 9:46 AM UTC
- The Swedish Krona rose, drifting closer to an over 2-year peak recorded in the prior session as the dollar eased across the board.
- The greenback eased after the U.S. Treasury yields ticked lower, while investors await minutes from the Fed’s last meeting due later in the day.
- USD/SEK trades 0.1 percent lower at 8.6302, having hit a low of 8.6101 on Tuesday, its lowest since May 2018.
- Immediate resistance is located at 8.6756 (5-DMA), any close above could take it near 8.6855 (7-EMA).
- On the lower side, support is seen at 8.6100, break below could take it till 8.6003.