USD/SEK may fall 443 - 653 pips

Our pivot point stands at 10.4910.

Our preference

Target 10.3960.

Alternative scenario

The upside breakout of 10.4910, would call for 10.5270 and 10.5480.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (10.4672) but above its 50 period moving average (10.4523).

Supports and resistances

10.5480 **

10.5270 *

10.4910 **

10.4770

10.4613 last

10.4170

10.3960 **

10.3750 *

10.3540 **

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