USD/SEK may fall 489 - 699 pips

Our pivot point is at 10.8340.

Our preference

The downside prevails as long as 10.8340 is resistance.

Alternative scenario

The upside breakout of 10.8340, would call for 10.8700 and 10.8910.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.8151 and 10.8185).

Supports and resistances

10.8910 **

10.8700 *

10.8340 **

10.8200

10.7999 last

10.7510

10.7300 **

10.7090 *

10.6870 **

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