USD/SEK may rise 602 - 822 pips

Our pivot point stands at 10.3890.

Our preference

Rebound towards 10.5000.

Alternative scenario

The downside breakout of 10.3890 would call for 10.3540 and 10.3330.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.4283 and 10.4617).

Supports and resistances

10.5420 **

10.5210 *

10.5000 **

10.4780

10.4178 last

10.4030

10.3890 **

10.3540 *

10.3330 **

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