The downtrend continues to drag bullish investors

The US dollar to Swedish krona trading pair is widely predicted to crash to its lowest level since April 2018 the pandemic continues to take shots against the buck. The decline should help bears assert more dominance over the market by pushing the 50-day moving average lower against the 200-day moving average. Looking at it, the Swedish krona has been one of the strongest currencies to take down the US dollar amidst the coronavirus pandemic. Some forex experts even believe that the Swedish krona’s run against the greenback is better than the Swiss franc, a safe-haven currency. However, the recently released economic data from Sweden has slightly weighed on the Swedish krona and it has prevented it from securing bigger gains after the pair break through its most recent support. Investors are waiting for further guidance from the scheduled Swedish producer price index for June later this Monday.