USD/SEK may rise to 11.0410 - 11.1880

Our pivot point stands at 10.5160.

Our preference

The upside prevails as long as 10.5160 is support.

Alternative scenario

The downside breakout of 10.5160 would call for 10.2690 and 10.1220.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.5784 and 10.5579). Finally, the USD/SEK is trading above its upper Bollinger band (standing at 10.7223).

Supports and resistances

11.4830 **

11.3360 *

11.1880 **

11.0410

10.7420 last

10.6130

10.5160 **

10.2690 *

10.1220 **

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