USD/SEK maintains gains exceeding 0.40%, underscoring the Dollar's continued firmness during Wednesday's session. The Riksbank sports a dovish view, trimming rates as forecasted, coupled with indications of more rate cuts in the second half of this year. Fed hawks are stepping in and challenging the dovish narrative. The USD/SEK pair is trading higher at 10.55, marking a significant gain from a low of 10.45last week.
USD/SEK technical analysis On the daily chart, the Relative Strength Index for the USD/SEK pair resides within the positive territory after recovering from a dip into the negative domain. The MACD histogram sheds more light on the scenario, with progressively decreasing red bars showcasing a slowdown in negative momentum. USD/SEK daily chart In regard to the Simple Moving Averages , the USD/SEK pair has reclaimed territory above the pivotal 20-day SMA.
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