The price line on USDSEK price chart, has been going within a bearish wave since 13th of October 2022; a 10.6% loss of value was the outcome of this bearish wave, until December the 5th, when the price line approached a strong support level. This support level is indicated as a green area on the chart. A descending triangle has been formed on the chart, which is indicated with light purple. MACD and RSI are issuing bearish signals and sellers can expect the price line to break below the static support zone, there they can enter short positions heading to the supply levels, mentioned below.
• There is a resistance level at 10.44800 followed by resistance at 10.67750 and 10.75000.
• There is a support level at 10.25600. Below, there is 10.07700 and 10.0425.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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