USD/SEK may rise 556 - 816 pips

Our pivot point is at 10.4870.

Our preference

As long as 10.4870 is support look for 10.6060.

Alternative scenario

The downside breakout of 10.4870 would call for 10.4440 and 10.4180.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.5173 and 10.4897).

Supports and resistances

10.6570 **

10.6310 *

10.6060 **

10.5800

10.5244 last

10.5040

10.4870 **

10.4440 *

10.4180 **

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