EUR/SEK may rise 466 - 686 pips

11.4720 is our pivot point.

Our preference

Our next up target stands at 11.5750.

Alternative scenario

Below 11.4720, expect 11.4340 and 11.4110.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.5027 and 11.5031).

Supports and resistances

11.6210 **

11.5980 *

11.5750 **

11.5530

11.5064 last

11.4870

11.4720 **

11.4340 *

11.4110 **

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