USDSEK (1H) - short term bearish bias
Last Wednesday's rebound turned out to be false hope for those who tried to buy the dip. The pair came under pressure at the 30-day moving average and could not sustain the lift. As the greenback sank below the major support of 9.6060 it became clear that sellers were still holding the reins. This morning's bearish impulse drove the RSI into the oversold territory and a temporary pullback is due. We would then expect the price to test again the 4H support of 9.5400.
Key support: 9.5400
Key resistance: 9.6380
Last Wednesday's rebound turned out to be false hope for those who tried to buy the dip. The pair came under pressure at the 30-day moving average and could not sustain the lift. As the greenback sank below the major support of 9.6060 it became clear that sellers were still holding the reins. This morning's bearish impulse drove the RSI into the oversold territory and a temporary pullback is due. We would then expect the price to test again the 4H support of 9.5400.
Key support: 9.5400
Key resistance: 9.6380