USD/SEK may fall 519 - 759 pips

10.4050 is our pivot point.

Our preference

Under pressure below 10.4050.

Alternative scenario

The upside breakout of 10.4050, would call for 10.4450 and 10.4690.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.3917 and 10.3810).

Supports and resistances

10.4690 **

10.4450 *

10.4050 **

10.3900

10.3679 last

10.3160

10.2920 **

10.2690 *

10.2450 **

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