U.S. Dollar / Swedish Krona - USD/SEK

Pivot points are a technical indicator that traders use to predict upcoming areas of technical significance, such as support and resistance. They're calculated by averaging the high, low and closing prices of a previous period. That could be a day, a week or a month.

If a market is trading above its previous pivot point (known as P), it is seen as a bullish signal. If it is below, it is bearish.

USD/SEK is an exotic forex pair representing how many Swedish krona equal one US dollar. The krona, which means crown in Swedish, and its rate are largely guided by policy from the country’s central bank.

The krona has had a floating exchange rate and is closely correlated with the Danish and Norwegian kroner. Like Denmark and Norway, Sweden is in the European Union but uses its own currency. This means USD/SEK is inversely correlated to EUR/USD.

The US dollar, meanwhile, is influenced by a confluence of factors including GDP, inflation, global trade, and the country’s involvement in geopolitical factors.