USD/SEK may rise 520 - 770 pips

Our pivot point stands at 10.4130.

Our preference

The upside prevails as long as 10.4130 is support.

Alternative scenario

Below 10.4130, expect 10.3710 and 10.3460.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.4455 and 10.4360).

Supports and resistances

10.5810 **

10.5560 *

10.5310 **

10.5060

10.4540 last

10.4300

10.4130 **

10.3710 *

10.3460 **

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