USD/SEK approaching support, potential bounce!

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USDSEK is approaching our first support where we are seeing a bounce above this level.

Entry: 9.5822

Why it’s good : Horizontal pullback support, 61.8% Fibonacci retracement, 100% Fibonacci extension, short term ascending support line

Stop Loss : 9.51216

Why it’s good : horizontal swing low support

Take Profit : 9.7366

Why it’s good: Horizontal swing high resistance, 61.8% Fibonacci extension

The material has been provided by InstaForex Company – www.instaforex.com

Source:: USD/SEK approaching support, potential bounce!

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