USD/SEK may fall 490 - 730 pips

Our pivot point is at 10.2260.

Our preference

The downside prevails as long as 10.2260 is resistance.

Alternative scenario

Above 10.2260, look for 10.2660 and 10.2900.

Comment

The RSI is below 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 10.2003 and 10.2166).

Supports and resistances

10.2900 **

10.2660 *

10.2260 **

10.2100

10.1880 last

10.1390

10.1150 **

10.0910 *

10.0680 **

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