EUR/SEK may rise to 11.5970 - 11.7160

Our pivot point stands at 11.1080.

Our preference

Rebound towards 11.7160.

Alternative scenario

Below 11.1080, expect 10.9090 and 10.7910.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (11.2956) but under its 50 period moving average (11.4896).

Supports and resistances

11.9550 **

11.8350 *

11.7160 **

11.5970

11.3104 last

11.1860

11.1080 **

10.9090 *

10.7910 **

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