USD/SEK may rise 727 - 1077 pips

Our pivot point stands at 10.3430.

Our preference

As long as 10.3430 is support look for 10.4990.

Alternative scenario

Below 10.3430, expect 10.2850 and 10.2510.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (10.3938) but above its 50 period moving average (10.3768).

Supports and resistances

10.5670 **

10.5330 *

10.4990 **

10.4640

10.3913 last

10.3660

10.3430 **

10.2850 *

10.2510 **

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