EUR/SEK may rise to 11.6620 - 11.7790

Our pivot point is at 11.2380.

Our preference

Rebound.

Alternative scenario

Below 11.2380, expect 11.0430 and 10.9270.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (11.2857) but below its 50 period moving average (11.4802). Finally, the EUR/SEK has crossed above its upper Bollinger band (11.4138).

Supports and resistances

12.0120 **

11.8960 *

11.7790 **

11.6620

11.4139 last

11.3150

11.2380 **

11.0430 *

10.9270 **

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