USD/SEK may rise 714 - 1014 pips

Our pivot point is at 10.1550.

Our preference

The upside prevails as long as 10.1550 is support.

Alternative scenario

The downside breakout of 10.1550 would call for 10.1040 and 10.0730.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.1944 and 10.2042). Finally, the USD/SEK is trading above its upper Bollinger band (standing at 10.2115).

Supports and resistances

10.3760 **

10.3450 *

10.3140 **

10.2840

10.2126 last

10.1750

10.1550 **

10.1040 *

10.0730 **

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