10
KMby u/kwame_mensah·11hAnalysis

$USDSEK - Testing the waters around 9.50

Been watching $USDSEK for a bit here and that 9.50 level is getting a workout. We've seen it bounce around 9.50245-9.52613 today, but the pressure to the downside has been fairly consistent, even with the slight pull-back currently. My read is that if we get a decisive close below 9.50, especially on a weekly basis, it could open the door for a retest of lower support zones. The risk to this idea, obviously, would be a strong rejection off 9.50, pushing back towards 9.52 and holding there. That would suggest the sellers are running out of steam, for now.

3 comments · 10 points

3 Comments

MNu/marek_n·7h

While 9.50 is a clear psychological level, I'd be more interested in what the DXY does this week before making a call on USDSEK's direction, especially on a weekly close.

16
TRu/tran62·7h

A decisive close below 9.50 would be a strong signal, but I'd be looking at volume confirmation on that break. Otherwise, it could just be another whipsaw before a move back up.

3
GLu/goldbug_lena·10h

I've also been tracking that 9.50 level on $USDSEK, and it's definitely a pivotal point. Do you have a specific lower support zone in mind that you'd be targeting if it breaks?

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