USD/SEK may rise 586 - 876 pips

Our pivot point is at 10.4820.

Our preference

The upside prevails as long as 10.4820 is support.

Alternative scenario

The downside breakout of 10.4820 would call for 10.4330 and 10.4040.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.5199 and 10.5269). Finally, the USD/SEK is trading above its upper Bollinger band (standing at 10.5397).

Supports and resistances

10.6880 **

10.6590 *

10.6300 **

10.6010

10.5424 last

10.5010

10.4820 **

10.4330 *

10.4040 **

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