EUR/SEK may rise 383 - 563 pips

Our pivot point stands at 11.5350.

Our preference

The upside prevails as long as 11.5350 is support.

Alternative scenario

The downside breakout of 11.5350 would call for 11.5050 and 11.4860.

Comment

The RSI is above 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 11.5537 and 11.5427).

Supports and resistances

11.6570 **

11.6390 *

11.6200 **

11.6020

11.5637 last

11.5470

11.5350 **

11.5050 *

11.4860 **

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