EUR/SEK may rise 448 - 608 pips

Our pivot point is at 11.3600.

Our preference

As long as 11.3600 is support look for 11.4420.

Alternative scenario

Below 11.3600, expect 11.3320 and 11.3160.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (11.3827) but above its 50 period moving average (11.3662).

Supports and resistances

11.4750 **

11.4580 *

11.4420 **

11.4260

11.3812 last

11.3700

11.3600 **

11.3320 *

11.3160 **

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