USD/SEK Price Recap
USD/SEK is up 247 pips (0.25%) since yesterday (with its current price near 9.805), marking the 3rd day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 13.88% from the day prior, and up 31.54% from the same day the week before. Relative to other instruments in the Forex asset class, USD/SEK ranked 17th yesterday in terms of percentage price change. The price chart of USD/SEK below illustrates.
USD/SEK Technical Analysis
Notably, USD/SEK is now close to its 20, 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 1510.9 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 20 out of the past 30 days.