USD/SEK may rise 710 - 1050 pips

10.3470 is our pivot point.

Our preference

The upside prevails as long as 10.3470 is support.

Alternative scenario

Below 10.3470, expect 10.2900 and 10.2550.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.3869 and 10.3798).

Supports and resistances

10.5690 **

10.5350 *

10.5000 **

10.4660

10.3950 last

10.3700

10.3470 **

10.2900 *

10.2550 **

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