During Friday’s trading session USD/SEK traded within the range of 6.4697-6.5060 and closed at 6.5029.
At 8:39 GMT today USD/SEK was losing 0.04% for the day to trade at 6.5005. The pair touched a daily low at 6.4922 at 6:50 GMT.
Fundamental view
The monthly business activity survey for the area of Chicago may show that the corresponding PMI slowed down to a reading of 58.5 during March from 59.8 in February. Higher than anticipated readings would provide support to the US dollar.
At 13:55 GMT Federal Reserve Chair Janet Yellen is expected to take a statement. Volatility of crosses including the US dollar is usually high during such events.
Technical view
According to Binary Tribune’s daily analysis, in case USD/SEK manages to breach the first resistance level at 6.5162, it will probably continue up to test 6.5292. In case the second key resistance is broken, the pair will probably attempt to advance to 6.5523.
If USD/SEK manages to breach the first key support at 6.4796, it will probably continue to slide and test 6.4566. With this second key support broken, the movement to the downside will probably continue to 6.4434.
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