USD/SEK may rise to 10.8660 - 11.0160

Our pivot point stands at 10.3230.

Our preference

The upside prevails as long as 10.3230 is support.

Alternative scenario

The downside breakout of 10.3230 would call for 10.0730 and 9.9240.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.3509 and 10.2949).

Supports and resistances

11.3150 **

11.1660 *

11.0160 **

10.8660

10.5384 last

10.4210

10.3230 **

10.0730 *

9.9240 **

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