USD/SEK may rise 450 - 670 pips

Our pivot point stands at 10.4890.

Our preference

Rebound towards 10.5900.

Alternative scenario

The downside breakout of 10.4890 would call for 10.4540 and 10.4320.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.5235 and 10.5239).

Supports and resistances

10.6320 **

10.6110 *

10.5900 **

10.5680

10.5230 last

10.5040

10.4890 **

10.4540 *

10.4320 **

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