USD/SEK to plunge towards the 8.30 mark – Commerzbank

USD/SEK has recently failed at the top of its one-year channel and is now eroding its 55-week ma. Analysts at Commerzbank look for losses back to 8.30.

USD/SEK to suffer a dip to the 200-DMA at 8.4591

“USD/SEK has recently failed at the top of this one-year channel and has sold off to the 55-week ma at 8.54. This should act as the break down point for losses to the 200-day ma and 25 June low at 8.4591/8.4436.”

“Below the 8.4591/8.4436 area would allow for losses to the base of the 2021 channel at 8.30.”