EUR/SEK may rise 351 - 491 pips

Our pivot point stands at 11.2930.

Our preference

Rebound.

Alternative scenario

Below 11.2930, expect 11.2700 and 11.2550.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (11.3197) but below its 50 period moving average (11.3317).

Supports and resistances

11.4000 **

11.3860 *

11.3720 **

11.3580

11.3229 last

11.3020

11.2930 **

11.2700 *

11.2550 **

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