USDSEK Down 66 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; Crosses 20 Day Moving Average

At the moment, USDSEK’s rate is down -66 pips (-0.08%) from the hour prior. The hourly chart shows that USDSEK has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 311 pips (0.36%) since the day prior (opening today near 8.7076), marking the 3rd consecutive day it has gone up. Relative to other instruments in the Forex asset class, USDSEK ranked 6th the day prior in terms of percentage price change. Here is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, USDSEK crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down 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. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone up 8 them.

The View From Around the Web

Not much commentary on USDSEK that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com that we thought you might enjoy.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram