Societe Generale analysis shows EUR/SEK reclaiming its 200-day moving average, signaling potential gains toward 11.11 and beyond.
The EUR/SEK pair has reclaimed its 200-day moving average, a critical resistance level, and broken above a base formation, indicating a short-term uptrend. Analysts target 11.11 as the next key level, with first support at 11.00.
The 200-day moving average had previously acted as a hurdle in rebound attempts. The recent breakout suggests momentum, with potential extensions toward 11.30/11.33 if support at 11.00 holds.
The uptrend aligns with a longer-term descending channel, where the upper boundary could serve as the next resistance zone.