USD/SEK Down 22 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated December 30, 2021 1:39 GMT)

At the moment, USDSEK’s rate is down -22 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDSEK has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDSEK is down 151 pips (0.17%) since the previous day (opening today near 9.03203), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, USDSEK ranked 33rd the previous day in terms of percentage price change. Here is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, the current price of USDSEK is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 7 out of the past 14 days.