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$USDSEK: Watching the 9.76 level closely
Been following $USDSEK today, and while it's pulled back from the session high, that 9.76ish area continues to be interesting on the hourly. We saw a rejection there earlier this morning, and it acted as resistance on a few occasions last week. If we get another test and can't push through convincingly, especially with some volume, I'd consider that a pretty solid indication that bulls might be running out of steam in the near term. The risk, of course, is a clear break above 9.76-9.77; that would invalidate the idea of resistance holding, suggesting further upside pressure.
1 comments · 1 points
I'm seeing similar action on USDSEK around that level. The prior rejections do make it a key area to watch. Are you seeing any specific candle formations or volume patterns that might provide a stronger signal if it approaches there again?