USDSEK 10 Apr 2024 In the analysis of USDSEK on the weekly timeframe, it can be seen that the pair has not managed to rally back and break through the Kumo Cloud. Although it tried to initiate a bullish trend last month, the pair declined again when it was about to touch the Kumo Cloud, showing the inability to break the resistance level. It is also noticeable that on the Stochastic Indicator, the moving average chart declined again when it touched the 80 level, signaling that the bullish momentum has weakened and may be followed by further price declines. Therefore, USDSEK still seems to be in a bearish trend, and traders should consider looking for selling opportunities or holding short positions, while remaining alert to potential changes in market conditions.
