USD/SEK may rise 576 - 836 pips

Our pivot point stands at 10.4710.

Our preference

Our next up target stands at 10.5990.

Alternative scenario

Below 10.4710, expect 10.4270 and 10.4000.

Comment

The RSI is above 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 10.5089 and 10.5140).

Supports and resistances

10.6520 **

10.6260 *

10.5990 **

10.5730

10.5154 last

10.4890

10.4710 **

10.4270 *

10.4000 **

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