USDSEK (1H) - intraday bearish bias
The greenback struggled to keep its lead after rising above the resistance level of 9.4280. The price has fallen back to test the major support of 9.3850. The bearish RSI divergence where the indicator failed to achieve a higher high despite a bullish price action foreshadows a deceleration in the upward momentum. If the US dollar cannot get back above 9.4220 we would expect the mood to turn sour and the pair could break below 9.3850 and resume its downtrend.
Key support: 9.3850
Key resistance: 9.4220
The greenback struggled to keep its lead after rising above the resistance level of 9.4280. The price has fallen back to test the major support of 9.3850. The bearish RSI divergence where the indicator failed to achieve a higher high despite a bullish price action foreshadows a deceleration in the upward momentum. If the US dollar cannot get back above 9.4220 we would expect the mood to turn sour and the pair could break below 9.3850 and resume its downtrend.
Key support: 9.3850
Key resistance: 9.4220