USD/SEK may fall 518 - 768 pips

Our pivot point is at 10.5370.

Our preference

The downside prevails as long as 10.5370 is resistance.

Alternative scenario

The upside breakout of 10.5370, would call for 10.5800 and 10.6050.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.5087 and 10.5122).

Supports and resistances

10.6050 **

10.5800 *

10.5370 **

10.5210

10.4908 last

10.4390

10.4140 **

10.3890 *

10.3640 **

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