USD/SEK may rise 558 - 828 pips

10.4850 is our pivot point.

Our preference

The upside prevails as long as 10.4850 is support.

Alternative scenario

The downside breakout of 10.4850 would call for 10.4400 and 10.4130.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5121 and 10.5155). Finally, the USD/SEK is trading above its upper Bollinger band (standing at 10.5263).

Supports and resistances

10.6640 **

10.6380 *

10.6110 **

10.5840

10.5282 last

10.5020

10.4850 **

10.4400 *

10.4130 **

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