EUR/SEK may rise to 11.5260 - 11.6020

Our pivot point stands at 11.2600.

Our preference

Rebound.

Alternative scenario

The downside breakout of 11.2600 would call for 11.1330 and 11.0580.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (11.3407) but under its 50 period moving average (11.3826).

Supports and resistances

11.7530 **

11.6770 *

11.6020 **

11.5260

11.3712 last

11.3100

11.2600 **

11.1330 *

11.0580 **

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