USD/SEK may rise 681 - 931 pips

Our pivot point stands at 10.3920.

Our preference

The upside prevails as long as 10.3920 is support.

Alternative scenario

The downside breakout of 10.3920 would call for 10.3490 and 10.3230.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.4161 and 10.4016).

Supports and resistances

10.5720 **

10.5470 *

10.5210 **

10.4960

10.4279 last

10.4090

10.3920 **

10.3490 *

10.3230 **

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