EUR/SEK may rise to 11.5890 - 11.7030

Our pivot point is at 11.1840.

Our preference

Rebound.

Alternative scenario

The downside breakout of 11.1840 would call for 10.9950 and 10.8820.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (11.2811) but below its 50 period moving average (11.4826).

Supports and resistances

11.9290 **

11.8160 *

11.7030 **

11.5890

11.3584 last

11.2590

11.1840 **

10.9950 *

10.8820 **

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