EUR/SEK may rise 311 - 461 pips

Our pivot point is at 11.4520.

Our preference

As long as 11.4520 is support look for 11.5330.

Alternative scenario

The downside breakout of 11.4520 would call for 11.4270 and 11.4120.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.4835 and 11.4769).

Supports and resistances

11.5630 **

11.5480 *

11.5330 **

11.5180

11.4869 last

11.4620

11.4520 **

11.4270 *

11.4120 **

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