USD/SEK may rise 542 - 782 pips

Our pivot point stands at 10.6680.

Our preference

Our next up target stands at 10.7890.

Alternative scenario

Below 10.6680, expect 10.6290 and 10.6050.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.6996 and 10.7073). Finally, the USD/SEK is trading above its upper Bollinger band (standing at 10.7101).

Supports and resistances

10.8360 **

10.8120 *

10.7890 **

10.7650

10.7108 last

10.6840

10.6680 **

10.6290 *

10.6050 **

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