USD/SEK may rise 586 - 856 pips

Our pivot point stands at 10.6710.

Our preference

The upside prevails as long as 10.6710 is support.

Alternative scenario

The downside breakout of 10.6710 would call for 10.6260 and 10.5990.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.6895 and 10.6836). Finally, the USD/SEK has crossed above its upper Bollinger band (10.7082).

Supports and resistances

10.8480 **

10.8210 *

10.7940 **

10.7670

10.7084 last

10.6890

10.6710 **

10.6260 *

10.5990 **

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