USD/SEK may rise 614 - 874 pips

Our pivot point is at 10.4520.

Our preference

Rebound.

Alternative scenario

Below 10.4520, expect 10.4100 and 10.3840.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (10.4810) but under its 50 period moving average (10.4983).

Supports and resistances

10.6270 **

10.6020 *

10.5770 **

10.5510

10.4896 last

10.4680

10.4520 **

10.4100 *

10.3840 **

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