USD/SEK may rise 538 - 788 pips

10.3900 is our pivot point.

Our preference

Rebound towards 10.5040.

Alternative scenario

The downside breakout of 10.3900 would call for 10.3480 and 10.3230.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.4328 and 10.4470).

Supports and resistances

10.5540 **

10.5290 *

10.5040 **

10.4790

10.4252 last

10.4060

10.3900 **

10.3480 *

10.3230 **

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