FxWirePro: USD/SEK retreats from 2-year trough, faces resistance at 8.8000
Tuesday, August 4, 2020 11:56 AM UTC
- The Swedish Krona declined, hovering away from a 2-year peak as the dollar edged up against a basket of currencies.
- The dollar index nudged higher after U.S. lawmakers said they had made progress in talks on a new coronavirus relief bill.
- USD/SEK trades 0.2 percent higher at 8.7625, having hit a low of 8.6397 on Friday, its lowest since June 2018.
- Immediate resistance is located at 8.7967, any close above could take it near 8.8461.
- On the lower side, support is seen at 8.7103, break below could take it till 8.6767.