USD/SEK may fall 547 - 817 pips

10.5660 is our pivot point.

Our preference

The downside prevails as long as 10.5660 is resistance.

Alternative scenario

The upside breakout of 10.5660, would call for 10.6120 and 10.6390.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.5378 and 10.5418). Finally, the USD/SEK is trading below its lower Bollinger band (standing at 10.5253).

Supports and resistances

10.6390 **

10.6120 *

10.5660 **

10.5490

10.5217 last

10.4670

10.4400 **

10.4130 *

10.3860 **

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