EUR/SEK may rise 437 - 607 pips

Our pivot point is at 11.3430.

Our preference

The upside prevails as long as 11.3430 is support.

Alternative scenario

The downside breakout of 11.3430 would call for 11.3140 and 11.2970.

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 11.3637 and 11.3633).

Supports and resistances

11.4630 **

11.4460 *

11.4280 **

11.4110

11.3673 last

11.3540

11.3430 **

11.3140 *

11.2970 **

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