USD/SEK may fall 554 - 794 pips

Our pivot point is at 10.5250.

Our preference

Target 10.4120.

Alternative scenario

The upside breakout of 10.5250, would call for 10.5650 and 10.5890.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (10.4954) but above its 50 period moving average (10.4899).

Supports and resistances

10.5890 **

10.5650 *

10.5250 **

10.5090

10.4914 last

10.4360

10.4120 **

10.3880 *

10.3640 **

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