USD/SEK may rise to 10.9700 - 11.1590

10.3100 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 10.3100 would call for 9.9940 and 9.8060.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (10.4918) but below its 50 period moving average (10.6705).

Supports and resistances

11.5360 **

11.3480 *

11.1590 **

10.9700

10.5650 last

10.4340

10.3100 **

9.9940 *

9.8060 **

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