FxWirePro: USD/SEK rebounds from 3-1/2 week trough, faces resistance at 21-EMA
Tuesday, July 7, 2020 11:50 AM UTC
- The Swedish Krona declined, retreating from a 3-1/2 peak recorded the day before as the greenback surged across the board.
- The greenback against a basket of currencies traded 0.2 percent higher at 96.92, having touched a low of 96.57 on Monday, its lowest since June 24.
- USD/SEK trades 0.3 percent up at 9.2658, having hit a low of 9.2137 earlier, its lowest since June 11.
- Immediate resistance is located at 9.3376 (21-EMA), any close above could take it near 9.3688.
- On the lower side, support is seen at 9.1964, break below could take it till 9.1740.