USD/SEK may rise 693 - 1033 pips

10.3470 is our pivot point.

Our preference

As long as 10.3470 is support look for 10.4980.

Alternative scenario

Below 10.3470, expect 10.2900 and 10.2550.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.3907 and 10.3873).

Supports and resistances

10.5670 **

10.5330 *

10.4980 **

10.4640

10.3947 last

10.3700

10.3470 **

10.2900 *

10.2550 **

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