USD/SEK may rise to 10.9660 - 11.1110

Our pivot point stands at 10.4480.

Our preference

The upside prevails as long as 10.4480 is support.

Alternative scenario

The downside breakout of 10.4480 would call for 10.2050 and 10.0610.

Comment

The RSI is above its neutrality area at 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 10.5636 and 10.5579).

Supports and resistances

11.4010 **

11.2560 *

11.1110 **

10.9660

10.6614 last

10.5440

10.4480 **

10.2050 *

10.0610 **

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