USD/SEK may rise 574 - 844 pips

Our pivot point stands at 10.5140.

Our preference

Our next up target stands at 10.6570.

Alternative scenario

Below 10.5140, expect 10.4690 and 10.4430.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5352 and 10.5436). Finally, the USD/SEK has crossed above its upper Bollinger band (10.5596).

Supports and resistances

10.7100 **

10.6830 *

10.6570 **

10.6300

10.5726 last

10.5320

10.5140 **

10.4690 *

10.4430 **

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