FxWirePro: USD/SEK reteats from recent peaks, finds strong resistance at 55-EMA
Monday, October 19, 2020 11:57 AM UTC
- The Swedish Krona rose to a near 1-week peak as the dollar declined across the board.
- The greenback eased on hopes of a Joe Biden win in the U.S. presidential election, who is likely seen to roll out additional stimulus.
- USD/SEK trades 0.6 percent lower at 8.7882, having hit a high of 8.8946 on Thursday, its highest since October 8.
- The piar rose to a high of 8.8827 earlier in the session but found strong resistance at 55-EMA to trade lower for the day.
- Immediate resistance is located at 8.9037 (21-DMA), any close above could take it above 8.9348.
- On the lower side, support is seen at 8.7559, break below could take it till 8.7392.