USD/SEK may rise 438 - 648 pips

10.7160 is our pivot point.

Our preference

The upside prevails as long as 10.7160 is support.

Alternative scenario

Below 10.7160, expect 10.6800 and 10.6590.

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 10.7280 and 10.7148).

Supports and resistances

10.8530 **

10.8320 *

10.8100 **

10.7890

10.7452 last

10.7300

10.7160 **

10.6800 *

10.6590 **

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