EUR/SEK may rise 337 - 497 pips

Our pivot point stands at 11.4350.

Our preference

Rebound towards 11.5050.

Alternative scenario

The downside breakout of 11.4350 would call for 11.4100 and 11.3950.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.4658 and 11.4797).

Supports and resistances

11.5350 **

11.5200 *

11.5050 **

11.4890

11.4553 last

11.4450

11.4350 **

11.4100 *

11.3950 **

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