FxWirePro: USD/SEK rebounds from 1-1/2 year trough, faces resistance at 5-DMA
Thursday, July 23, 2020 12:59 PM UTC
- The Swedish Krona retreated from a 1-1/2 year peak hit in the prior session as the dollar rebounded from recent lows.
- The greenback against a basket of currencies traded 0.1 percent higher at 95.09, having touched a low of 94.78 earlier, its lowest since March 9.
- USD/SEK trades 0.6 percent up at 8.8936, having hit a low of 8.8351 on Wednesday, its lowest since late September 2018.
- Immediate resistance is located at 8.9554 (5-DMA), any close above could take it near 8.9781 (7-EMA).
- On the lower side, support is seen at 8.8187, break below could take it till 8.7714.