EUR/SEK may rise to 11.6730 - 11.7720

Our pivot point is at 11.3130.

Our preference

Rebound.

Alternative scenario

The downside breakout of 11.3130 would call for 11.1470 and 11.0480.

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 (11.4059) but below its 50 period moving average (11.4835).

Supports and resistances

11.9700 **

11.8710 *

11.7720 **

11.6730

11.4572 last

11.3780

11.3130 **

11.1470 *

11.0480 **

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