USD/SEK may fall 466 - 676 pips

10.6030 is our pivot point.

Our preference

The downside prevails as long as 10.6030 is resistance.

Alternative scenario

Above 10.6030, look for 10.6390 and 10.6610.

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 10.5844 and 10.5916). Finally, the USD/SEK is trading below its lower Bollinger band (standing at 10.5707).

Supports and resistances

10.6610 **

10.6390 *

10.6030 **

10.5890

10.5696 last

10.5230

10.5020 **

10.4800 *

10.4580 **

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