EUR/SEK may rise 393 - 563 pips

Our pivot point stands at 11.3310.

Our preference

The upside prevails as long as 11.3310 is support.

Alternative scenario

The downside breakout of 11.3310 would call for 11.3030 and 11.2860.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.3473 and 11.3500).

Supports and resistances

11.4510 **

11.4330 *

11.4160 **

11.3990

11.3597 last

11.3430

11.3310 **

11.3030 *

11.2860 **

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