USD/SEK may rise to 10.9150 - 11.0840

Our pivot point is at 10.3240.

Our preference

Rebound.

Alternative scenario

The downside breakout of 10.3240 would call for 10.0400 and 9.8720.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (10.4863) but under its 50 period moving average (10.6523).

Supports and resistances

11.4230 **

11.2530 *

11.0840 **

10.9150

10.5612 last

10.4350

10.3240 **

10.0400 *

9.8720 **

Number of asterisks represents the strength of support and resistance levels.