USDSEK currency pair has been moving in a strong uptrend since late Fall of last year. For the first time since the beginning of June, the price may test the trend line and the important 10.05 level.
However, even if the USDSEK keeps within the trend line, further upside movement is uncertain: a "head and shoulders" pattern may finally form on the graph, meaning one more attempt to reach the trend line and break it down.
A strong move may be caused by tomorrow's U.S. inflation statistics for July. It is necessary to keep a sharp eye on the situation.
This content is for informational purposes only and is not intended to be investing advice.
