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SWEDISH KRONA / U.S. DOLLAR

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SEKUSD trade ideas

USDSEK - Time to turn around?USDSEK (1H) - short term bullish bias The US dollar started the week with a lead in continuation of Friday's momentum. The bullish RSI divergence at the November low of 9.5450 was the first hint that selling pressures were easing off and the price could start to turn around. The break above the moving averages and the bullish MA cross came as further confirmations that buyers have started to commit themselves. With enough support during the current pullback we could expect a rally toward 9.6000. Key support: 9.5370 Key resistance: 9.6000
Long
by INFINOX_Capital
USDSEK - Bearish momentumUSDSEK (1H) - short term bearish bias Last Wednesday's rebound turned out to be false hope for those who tried to buy the dip. The pair came under pressure at the 30-day moving average and could not sustain the lift. As the greenback sank below the major support of 9.6060 it became clear that sellers were still holding the reins. This morning's bearish impulse drove the RSI into the oversold territory and a temporary pullback is due. We would then expect the price to test again the 4H support of 9.5400. Key support: 9.5400 Key resistance: 9.6380
Short
by INFINOX_Capital