- The Swedish Krona plunged to a 2- month trough, as the greenback surged across the board.
- USD/SEK currently trades 0.1 percent up at 9.5690, having hit a high of 9.5764 earlier, its highest since May 29.
- The pair is holding well above the 9.5202 level (trendline joining 9.4996 and 9.4804).
- Technical indicators support upside - RSI strong at 64.58 and MACD confirms an uptrend.
- Stochs are sharply higher, however, likely to rollover from overbought levels, a minor dip expected.
- Immediate resistance is located at 9.5901 (May 27 High), break above could take it near 9.6147 (May 29 High).
- On the lower side, support is seen at 9.5254 (May 30 Low), close below could dag it till 9.4796 (5-DMA)
Recommendation: Good to buy on dips around 9.5500, with stop loss of 9.5254 and target price at 9.5900.
