EUR/SEK may rise to 11.8380 - 11.9460

Our pivot point stands at 11.4430.

Our preference

The upside prevails as long as 11.4430 is support.

Alternative scenario

The downside breakout of 11.4430 would call for 11.2630 and 11.1560.

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 11.4297 and 11.4185).

Supports and resistances

12.1610 **

12.0530 *

11.9460 **

11.8380

11.6153 last

11.5130

11.4430 **

11.2630 *

11.1560 **

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