USD/SEK may rise 504 - 734 pips

Our pivot point stands at 10.3460.

Our preference

Rebound.

Alternative scenario

The downside breakout of 10.3460 would call for 10.3070 and 10.2840.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (10.3733) but under its 50 period moving average (10.3957).

Supports and resistances

10.5070 **

10.4840 *

10.4610 **

10.4380

10.3876 last

10.3610

10.3460 **

10.3070 *

10.2840 **

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