USD/SEK Down 31 Pips in Last Hour, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated January 7, 2022 1:37 GMT)

At the time of this writing, USDSEK’s rate is down -31 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 up 371 pips (0.41%) since the previous day (opening today near 9.14815), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 12th in terms of percentage change since the previous day. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Coming into today USDSEK is now close to its 20 and 50 day averages, located at 9.0895 and 8.9576 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 5 out of the past 10 days.