TehGrumpyTrader

USDSEK Bearish Tendency towards ~9.11

OANDA:USDSEK   U.S. Dollar / Swedish Krona
The market is consistently below the 200, 50, and 20-Day EMA , the weekly upward trend since JAN2018 broken around 20 November 2019, since then consistent bearish movement. Around 9.44300 strong resistance upwards, if broken to ~9.50 and beyond, bullish reversal quite likely.

Otherwise anticipate continuous bearish trend with supports at ~9.34500, ~9.25500, and ~9.11500 with upward spikes along the way. Bounce-back from 9.34 zone still a possibility, given the strong fundamentals of USD in general. The Abyss-Scenario could be bearish until ~8.70, then recovery.

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