- USD / SEK is up 0.36% during the day at press time.
- The limited liquidity conditions in the market have favored the dollar, which is ahead against most of the G8 currencies.
- USD / SEK Price Forecast: A textbook bullish pennant chart pattern is targeting 9.4000.
The USD/SEK it advances to the end of the European session, trading at 9.1256 at the time of writing. On Friday, Wall Street is closed in the US. in commemoration of Christmas; The US money and securities markets are expected to reopen on Monday.
The poor liquidity conditions of the market keep the dollar on the right foot against most of the main G8 countries, with the exception of the pound sterling, which is up 0.03%. In equity markets, most of the European stock exchanges that opened on Friday are on the rise, with the exception of the CAC 40, with a fall of 0.28%.
In summary for the US money markets, the 10-year US Treasury yield ended the week at 1,493%, while the US dollar index held on to the 96.00 level, currently at 96.06. , despite losing in the last three trading sessions before Christmas Eve.
USD / SEK Price Forecast: Technical Outlook
During the Asian and European session, USD / SEK fell as low as 9.0500, breaking the daily low on December 22 at 9.0535. However, when European traders hit their desks, the pair rallied to the December 23 daily high of 9.1323, which capped the bullish move and settled at current levels.
From the perspective of the daily chart, the USD / SEK represents the formation of a bullish bandin chart pattern, formed during the month of December, which in case of breaking around the 9.1500 figure would point to 9.4000.
However, he would encounter some obstacles on the way north. The first resistance would be the psychological figure of 9.1500. A breach of the latter would expose successive resistance levels / daily highs reached in December, such as the December 20 daily high at 9.1704, followed by the December 3 high at 9.1864, and then the November 26 high to date. on 9.2026.
Technical levels
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