USD/SEK Down 287 Pips; in an Uptrend Over Past 30 Days

USD/SEK Price Recap

USD/SEK enters today at 9.6843 in US dollars, down 287 pips (0.3%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 33.94% from the day before — and down 34.78% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 36th for the day in terms of day-over-day price change. Here is a price chart of USD/SEK.

USD/SEK Technical Analysis

The first thing we should note is that USD/SEK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 712.1 pips away. Volatility for USD/SEK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.