USDSEK (1H) - short term bullish bias
The US dollar maintains its way up across the board ahead of today's jobs report. After bouncing off the psychological support level of 9.3000, the greenback has been climbing higher and breaking through resistance. Sentiment remains upbeat as the moving averages and the trend line provide a strong incentive to go with the uptrend. Volatility from the non-farm payrolls may test buyers' commitment as the RSI is pointing to an over-extension. But as long as the support lines stay in place, we would expect an extended rally.
Key support: 9.4700
Key resistance: 9.5400
The US dollar maintains its way up across the board ahead of today's jobs report. After bouncing off the psychological support level of 9.3000, the greenback has been climbing higher and breaking through resistance. Sentiment remains upbeat as the moving averages and the trend line provide a strong incentive to go with the uptrend. Volatility from the non-farm payrolls may test buyers' commitment as the RSI is pointing to an over-extension. But as long as the support lines stay in place, we would expect an extended rally.
Key support: 9.4700
Key resistance: 9.5400