EUR/SEK may rise 599 - 859 pips

Our pivot point is at 11.3370.

Our preference

The upside prevails as long as 11.3370 is support.

Alternative scenario

Below 11.3370, expect 11.2930 and 11.2670.

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 trading above both its 20 and 50 period moving average (respectively at 11.3536 and 11.3635). Finally, the EUR/SEK has crossed above its upper Bollinger band (11.3717).

Supports and resistances

11.5110 **

11.4850 *

11.4590 **

11.4330

11.3731 last

11.3550

11.3370 **

11.2930 *

11.2670 **

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