USD/SEK Up 14 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated January 5, 2022 1:39 GMT)

At the time of this writing, USDSEK’s rate is up 14 pips (0.02%) from the hour prior. The hourly chart shows that USDSEK has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists 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)

The back and forth price flow continues for USDSEK, which started today off at 9.0928, down 115 pips 0.13% from the day prior. Relative to other instruments in the Forex asset class, USDSEK ranked 28th the day prior in terms of percentage price change. Let’s take a look at price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, USDSEK is now close to its 20 and 50 day averages, located at 9.0815 and 8.9346 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. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone down 7 them.