FxWirePro: USD/SEK rebounds from 2-1/2 month low, likely to break above 9.7000
Friday, May 22, 2020 11:55 AM UTC
- The Swedish Krona declined as the dollar edged higher against a basket of peers as investors weighed the impact of the global economic lockdown.
- On Thursday, the pair fell a 2-1/2 -month low but retraced to close 0.4 percent higher at 9.6123 as the greenback rebounded from multi-week lows.
- USD/SEK trades 0.7 percent up at 9.6770, having hit a low of 9.5523 the prior session, its lowest since March 12.
- Immediate resistance is located at 9.6991 (200-DMA), any close above could take it near 9.7082.
- On the lower side, support is seen at 9.6000, break below could take it till 9.5832.