FxWirePro: USD/SEK declines from 3-week peak, holds above 7-EMA
Tuesday, November 3, 2020 11:16 AM UTC
- The Swedish Krona rose, hovering away from a 3-week low hit last week as the greenback eased against a basket of currencies.
- The dollar index declined as investors bet on a clear win for Joe Biden as the United States votes in the presidential election.
- The greenback against a basket of currencies traded 0.5 percent down at 93.63, having touched a high of 94.28 on Monday, its highest since September 29.
- USD/SEK trades 0.3 percent lower at 8.8735, having hit a high of 8.9484 on Thursday, its highest since October 7.
- Immediate resistance is located at 8.9221, any close above could take it above 8.9472.
- On the lower side, support is seen at 8.8464 (7-EMA), break below could take it till 8.8305 (21-EMA).