EUR/SEK may rise 423 - 613 pips

Our pivot point is at 11.4620.

Our preference

The upside prevails as long as 11.4620 is support.

Alternative scenario

The downside breakout of 11.4620 would call for 11.4300 and 11.4110.

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 11.4778 and 11.4823).

Supports and resistances

11.5890 **

11.5700 *

11.5510 **

11.5320

11.4897 last

11.4750

11.4620 **

11.4300 *

11.4110 **

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