USD/SEK may fall 552 - 782 pips

Our pivot point stands at 10.4060.

Our preference

The downside prevails as long as 10.4060 is resistance.

Alternative scenario

The upside breakout of 10.4060, would call for 10.4450 and 10.4680.

Comment

The RSI is below its neutrality area at 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 10.3802 and 10.3885).

Supports and resistances

10.4680 **

10.4450 *

10.4060 **

10.3910

10.3742 last

10.3190

10.2960 **

10.2730 *

10.2500 **

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