EUR/SEK may rise 372 - 542 pips

Our pivot point is at 11.5870.

Our preference

The upside prevails as long as 11.5870 is support.

Alternative scenario

Below 11.5870, expect 11.5580 and 11.5400.

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 11.6044 and 11.6001). Finally, the EUR/SEK has crossed above its upper Bollinger band (11.6176).

Supports and resistances

11.7080 **

11.6910 *

11.6730 **

11.6560

11.6188 last

11.5990

11.5870 **

11.5580 *

11.5400 **

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