USD/SEK may fall 513 - 723 pips

Our pivot point is at 10.6940.

Our preference

Under pressure below 10.6940.

Alternative scenario

Above 10.6940, look for 10.7290 and 10.7500.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.6659 and 10.6690).

Supports and resistances

10.7500 **

10.7290 *

10.6940 **

10.6800

10.6653 last

10.6140

10.5930 **

10.5720 *

10.5510 **

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