USD/SEK may fall to 9.7000 - 9.8630

Our pivot point stands at 10.4360.

Our preference

The downside prevails as long as 10.4360 is resistance.

Alternative scenario

The upside breakout of 10.4360, would call for 10.7120 and 10.8760.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.4265 and 10.5303).

Supports and resistances

10.8760 **

10.7120 *

10.4360 **

10.3280

10.1985 last

9.8630

9.7000 **

9.5360 *

9.3730 **

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