USD/SEK may fall 705 - 1045 pips

Our pivot point is at 10.4370.

Our preference

The downside prevails as long as 10.4370 is resistance.

Alternative scenario

Above 10.4370, look for 10.4950 and 10.5290.

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 is trading under both its 20 and 50 period moving average (respectively at 10.3945 and 10.3930).

Supports and resistances

10.5290 **

10.4950 *

10.4370 **

10.4140

10.3905 last

10.3200

10.2860 **

10.2510 *

10.2170 **

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