EUR/SEK may rise 498 - 728 pips

Our pivot point stands at 11.3070.

Our preference

Rebound towards 11.4150.

Alternative scenario

Below 11.3070, expect 11.2680 and 11.2440.

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 under both its 20 and 50 period moving average (respectively at 11.3445 and 11.3578).

Supports and resistances

11.4620 **

11.4390 *

11.4150 **

11.3920

11.3422 last

11.3230

11.3070 **

11.2680 *

11.2440 **

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