USD/SEK may fall 562 - 842 pips

Our pivot point is at 10.6080.

Our preference

Target 10.4820.

Alternative scenario

Above 10.6080, look for 10.6540 and 10.6810.

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 pair is trading under its 20 period moving average (10.5775) but above its 50 period moving average (10.5524).

Supports and resistances

10.6810 **

10.6540 *

10.6080 **

10.5900

10.5662 last

10.5100

10.4820 **

10.4550 *

10.4280 **

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