EUR/SEK may rise 361 - 521 pips

Our pivot point is at 11.3030.

Our preference

Rebound towards 11.3860.

Alternative scenario

The downside breakout of 11.3030 would call for 11.2750 and 11.2590.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.3385 and 11.3554).

Supports and resistances

11.4190 **

11.4030 *

11.3860 **

11.3700

11.3339 last

11.3140

11.3030 **

11.2750 *

11.2590 **

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