USD/SEK may fall 424 - 634 pips

Our pivot point is at 10.6210.

Our preference

The downside prevails as long as 10.6210 is resistance.

Alternative scenario

The upside breakout of 10.6210, would call for 10.6560 and 10.6770.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.5931 and 10.6035).

Supports and resistances

10.6770 **

10.6560 *

10.6210 **

10.6070

10.5804 last

10.5380

10.5170 **

10.4960 *

10.4750 **

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