FxWirePro: USD/SEK hits 1-week trough, dip till 8.6390 likely
Thursday, August 13, 2020 12:20 PM UTC
- The Swedish Krona rose to a 1-week high as the greenback eased against a basket of currencies.
- The dollar index slumped amid fading hopes for a compromise between Republicans and Democrats over additional stimulus for the U.S. economy.
- USD/SEK trades 0.1 percent lower at 8.6832, having hit a low of 8.6550 earlier, its lowest since August 6.
- Immediate resistance is located at 8.7239 (5-DMA), any close above could take it near 8.7500.
- On the lower side, support is seen at 8.6390, break below could take it till 8.6140.