USD/SEK may rise 460 - 680 pips

Our pivot point is at 10.5090.

Our preference

As long as 10.5090 is support look for 10.6060.

Alternative scenario

The downside breakout of 10.5090 would call for 10.4730 and 10.4510.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (10.5405) but above its 50 period moving average (10.5283).

Supports and resistances

10.6490 **

10.6270 *

10.6060 **

10.5840

10.5380 last

10.5230

10.5090 **

10.4730 *

10.4510 **

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