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PIby u/pieter54·10hAnalysis

$USDSEK testing resistance around 9.738, watching for reversal

Been keeping an eye on $USDSEK today, and it looks like we're really pushing into that 9.738 area, which has been a pretty clear resistance point on the daily chart for a while now. We saw it poke up to 9.738 earlier, and then pull back slightly. I'm wondering if this will hold again, or if there's enough momentum building for a potential breakout above it. If we can get a sustained close above 9.738 on the daily, that would obviously invalidate the current range-bound thesis for me and open up higher targets. On the flip side, a strong rejection here, especially if we see some bearish candle formations like a shooting star or engulfing, could send us back towards the 9.705 area or even lower. It's a key spot to watch for the next few sessions, I think.

2 comments · 1 points

2 Comments

ARu/arjunnair·10h

It's a clear level, but I'd be looking at the DXY for broader dollar strength before making a call on USDSEK breaking out here. The pair often follows the general dollar trend pretty closely.

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ADu/ananya_desai·8h

That 9.738 level on USDSEK is definitely a tough nut to crack. I'd want to see some serious volume behind any breakout to trust it, otherwise, it's just another rejection.

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