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USD/SEK Target at 6.80 by End of the Year

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Following a month long plunge against the dollar, investors, along with Sweden's central bank official, anticipate an imminent rebound for the Swedish krona versus the USD. The currency dropped from 6.48 versus the dollar to currently trade at 7.05.

Looking at the pair's daily chart, it is evident that the RSI (1) for the pair has been floating near or above the overbought territory indicating downward pressure, with the Williams Percent Range supporting this trend. The expectation for the Krona is to appreciate versus the USD to around 6.80 by the end of the year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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