Digging into analyzing 2 hour USDSEK
chart, the market closed at an exchange of 9.66286, crossing its support level
of 9.66985 (Fib 78.6%). With Aroon
(14 period) indicating further downturn and the current support levels probably becoming the new resistance, the exchange rate might dip to 9.64685 (Fib 61.8%) and recover from this point. Analyzing the 1 hour, 3 hour and 2 hour chart, they are all in support of further downturn in the exchange. I am looking into a price range of between 9.7 and 9.65 as my resistance and support levels.