EUR/SEK may rise 446 - 616 pips

Our pivot point stands at 11.2500.

Our preference

The upside prevails as long as 11.2500 is support.

Alternative scenario

Below 11.2500, expect 11.2220 and 11.2050.

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 11.2560 and 11.2475).

Supports and resistances

11.3700 **

11.3530 *

11.3360 **

11.3190

11.2744 last

11.2620

11.2500 **

11.2220 *

11.2050 **

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