During Friday’s trading session USD/SEK traded within the range of 6.4041-6.4391 and closed at 6.4240.
At 8:24 GMT today USD/SEK was losing 0.13% for the day to trade at 6.4154. The pair touched a session low at 6.4128 at 6:30 GMT.
Fundamental view
Manufacturing activity in the United States probably slowed down in March. The preliminary reading of the manufacturing PMI probably was at 56.5 in March, as the final reading was at 57.1 during the preceding month. Values above the key level of 50.0 are indicative of expansion in the sector. Markit Economics is to publish the official reading at 13:45 GMT.
Technical view
According to Binary Tribune’s daily analysis, in case USD/SEK manages to breach the first resistance level at 6.4407, it will probably continue up to test 6.4574. In case the second key resistance is broken, the pair will probably attempt to advance to 6.4757.
If USD/SEK manages to breach the first key support at 6.4057, it will probably continue to slide and test 6.3874. With this second key support broken, the movement to the downside will probably continue to 6.3707.
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