USD/SEK may fall 526 - 766 pips

Our pivot point is at 10.8350.

Our preference

The downside prevails as long as 10.8350 is resistance.

Alternative scenario

Above 10.8350, look for 10.8750 and 10.8990.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.8258 and 10.8276).

Supports and resistances

10.8990 **

10.8750 *

10.8350 **

10.8200

10.7996 last

10.7470

10.7230 **

10.6990 *

10.6760 **

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