USD/SEK Up 55 Pips On Hourly Chart; Moves Down For the 3rd Day In A Row

Hourly Update

(Last Updated January 14, 2022 1:39 GMT)

At the time of this writing, USDSEK’s rate is up 55 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 down 172 pips (0.19%) since the day prior (opening today near 8.92319), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USDSEK ranked 24th 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, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 15 out of the past 30 days.