EUR/SEK may rise 241 - 351 pips

11.4320 is our pivot point.

Our preference

The upside prevails as long as 11.4320 is support.

Alternative scenario

The downside breakout of 11.4320 would call for 11.4120 and 11.4010.

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 11.4386 and 11.4294).

Supports and resistances

11.5070 **

11.4950 *

11.4830 **

11.4720

11.4479 last

11.4390

11.4320 **

11.4120 *

11.4010 **

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