USDSEK is breaking below the long-term resistance
USDSEK has broken below the strong resistance of 8.600. A confirmed break below this resistance is giving us a higher probability of the short trade entries. A break above 8.5000 is now required for the upside reversal. The overall medium-term is now downtrend and we could only see bounces to broken downside resistance turned support 8.5000-8.6000 zone. Use a bounce to short the pair as it has materialized downside reversal.
Note – We are inclined to short trade entries with the stop loss above 8.4500.
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