USD/SEK may rise 427 - 637 pips

Our pivot point is at 10.5550.

Our preference

As long as 10.5550 is support look for 10.6630.

Alternative scenario

Below 10.5550, expect 10.5200 and 10.4990.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5845 and 10.5662).

Supports and resistances

10.7050 **

10.6840 *

10.6630 **

10.6420

10.5993 last

10.5690

10.5550 **

10.5200 *

10.4990 **

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