USD/SEK may fall 445 - 655 pips

10.5810 is our pivot point.

Our preference

As long as 10.5810 is resistance look for 10.4820.

Alternative scenario

The upside breakout of 10.5810, would call for 10.6170 and 10.6390.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.5481 and 10.5480).

Supports and resistances

10.6390 **

10.6170 *

10.5810 **

10.5670

10.5475 last

10.5030

10.4820 **

10.4600 *

10.4390 **

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