EUR/SEK may rise 344 - 514 pips

Our pivot point is at 11.4940.

Our preference

Rebound.

Alternative scenario

Below 11.4940, expect 11.4650 and 11.4470.

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 (11.5084) but below its 50 period moving average (11.5238).

Supports and resistances

11.6040 **

11.5870 *

11.5690 **

11.5520

11.5176 last

11.5050

11.4940 **

11.4650 *

11.4470 **

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