USD/SEK may fall 510 - 740 pips

Our pivot point stands at 10.2230.

Our preference

The downside prevails as long as 10.2230 is resistance.

Alternative scenario

The upside breakout of 10.2230, would call for 10.2620 and 10.2860.

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 stands below its 20 and 50 period moving average (respectively at 10.1799 and 10.1865).

Supports and resistances

10.2860 **

10.2620 *

10.2230 **

10.2070

10.1780 last

10.1270

10.1040 **

10.0800 *

10.0570 **

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