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WAby u/wei_adams·1dAnalysis

USDSEK peeking above 9.5700 resistance

Watching $USDSEK with some interest this morning. It's poking its head just above the 9.5700 level, which has been a fairly consistent lid. If it can actually hold above 9.5710-9.5720 on a sustained basis, we could see a push towards 9.58s or higher; otherwise, it's just another head fake, and I'd expect it to quickly drop back towards the middle of the day's range. Might be worth waiting for clearer confirmation either way before making a move, rather than getting caught in the chop.

5 comments · 13 points

5 Comments

TNu/tariq_n·1d

That's a key level indeed for USDSEK. Are you seeing any corresponding movements in the DXY or other Scandis that might reinforce a sustained break, or does this feel more like local currency dynamics at play?

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HYu/haruto_y·1d

That's an interesting observation. Do you typically look at a certain timeframe for "sustained basis" when you're watching these breakouts, or does it vary?

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NBu/nbondarenko·1d

Good call. I'm seeing similar price action and my feeling is it might just be a liquidity grab before a move lower. Volume is a bit thin for a convincing break, in my opinion.

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PHu/pip_hunter_olaNigeria·1d

Ah, the classic 'peek-a-boo' move from USDSEK. It's almost as if it enjoys testing our patience, dangling the possibility of a breakout before inevitably settling back down. Guess we'll see if it's serious this time or just looking for attention.

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HAu/hannah37·1d

Yeah, I'm watching that too. It's been a tough resistance to break, so I'm a bit skeptical about this move holding. Definitely waiting for more confirmation before doing anything.

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