USD/SEK may fall 513 - 743 pips

Our pivot point stands at 10.5120.

Our preference

The downside prevails as long as 10.5120 is resistance.

Alternative scenario

Above 10.5120, look for 10.5520 and 10.5760.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.4824 and 10.4893). Finally, the USD/SEK is trading below its lower Bollinger band (standing at 10.4704).

Supports and resistances

10.5760 **

10.5520 *

10.5120 **

10.4960

10.4673 last

10.4160

10.3930 **

10.3690 *

10.3450 **

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