Chart Of The Day: USD/SEK

In the last month, failed to hit a new low for 2021, which sets up a long-term higher low. And with the pair looking to break the 8.4900 level, the risk would be for a move back towards the 200-day moving average and the 161% Fibonacci extension at the 8.6619 level, which also happens to be near the lows of August 2020. Notice the broken (red) trendline and how the market has respected it since the fall of 2020. 

 

USD/SEK Daily Chart.
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