USD/SEK may fall 454 - 674 pips

10.6130 is our pivot point.

Our preference

The downside prevails as long as 10.6130 is resistance.

Alternative scenario

The upside breakout of 10.6130, would call for 10.6500 and 10.6710.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.5925 and 10.5848).

Supports and resistances

10.6710 **

10.6500 *

10.6130 **

10.5990

10.5844 last

10.5390

10.5170 **

10.4960 *

10.4740 **

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