USD/SEK may rise 537 - 767 pips

Our pivot point stands at 10.5230.

Our preference

The upside prevails as long as 10.5230 is support.

Alternative scenario

The downside breakout of 10.5230 would call for 10.4840 and 10.4620.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5501 and 10.5425).

Supports and resistances

10.6780 **

10.6550 *

10.6320 **

10.6090

10.5553 last

10.5380

10.5230 **

10.4840 *

10.4620 **

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