USD/SEK may rise 506 - 756 pips

Our pivot point stands at 10.5310.

Our preference

As long as 10.5310 is support look for 10.6410.

Alternative scenario

The downside breakout of 10.5310 would call for 10.4890 and 10.4640.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5643 and 10.5165).

Supports and resistances

10.6920 **

10.6670 *

10.6410 **

10.6160

10.5654 last

10.5480

10.5310 **

10.4890 *

10.4640 **

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