USD/SEK may rise 490 - 730 pips

10.6960 is our pivot point.

Our preference

The upside prevails as long as 10.6960 is support.

Alternative scenario

Below 10.6960, expect 10.6560 and 10.6330.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.7259 and 10.7138).

Supports and resistances

10.8480 **

10.8240 *

10.8010 **

10.7770

10.7280 last

10.7110

10.6960 **

10.6560 *

10.6330 **

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