EUR/SEK may rise to 11.7280 - 11.8550

Our pivot point stands at 11.2550.

Our preference

Rebound.

Alternative scenario

Below 11.2550, expect 11.0420 and 10.9150.

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 trigger further gains. Moreover, the price stands above its 20 period moving average (11.3012) but below its 50 period moving average (11.4473).

Supports and resistances

12.1100 **

11.9830 *

11.8550 **

11.7280

11.4257 last

11.3390

11.2550 **

11.0420 *

10.9150 **

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