Chart Of The Day: USD/SEK

On March 1, our “Chart of the Day” was USD/SEK, and we were looking for a break higher towards the 200-day moving average back then. Well, we got that move (and some) and now this bullish move looks set to make another move higher near term. As long as we hold above the 200-day moving average, the risk may be for a breakout above the 61.8% Fibonacci retracement level at the 8.7833 level to target closer to the 9.000 level and the 78% retracement. RSI is working off being overbought and looks set to make another move higher.

USD/SEK Daily Chart.

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