USD/SEK may fall 651 - 961 pips

10.3420 is our pivot point.

Our preference

The downside prevails as long as 10.3420 is resistance.

Alternative scenario

Above 10.3420, look for 10.3930 and 10.4240.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.3064 and 10.3313). Finally, the USD/SEK has penetrated its lower Bollinger band (10.2792).

Supports and resistances

10.4240 **

10.3930 *

10.3420 **

10.3210

10.2761 last

10.2110

10.1800 **

10.1500 *

10.1190 **

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