EUR/SEK may rise 345 - 505 pips

11.2660 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 11.2660, expect 11.2380 and 11.2220.

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 (11.2903) but under its 50 period moving average (11.3075).

Supports and resistances

11.3800 **

11.3640 *

11.3470 **

11.3310

11.2965 last

11.2770

11.2660 **

11.2380 *

11.2220 **

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