EUR/SEK may rise 370 - 540 pips

Our pivot point stands at 11.3460.

Our preference

The upside prevails as long as 11.3460 is support.

Alternative scenario

Below 11.3460, expect 11.3190 and 11.3020.

Comment

The RSI is above its neutrality area at 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 11.3570 and 11.3608). Finally, the EUR/SEK is trading above its upper Bollinger band (standing at 11.3704).

Supports and resistances

11.4640 **

11.4470 *

11.4310 **

11.4140

11.3770 last

11.3570

11.3460 **

11.3190 *

11.3020 **

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