EUR/SEK may rise 397 - 567 pips

Our pivot point is at 11.2550.

Our preference

Rebound towards 11.3350.

Alternative scenario

Below 11.2550, expect 11.2270 and 11.2100.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.2820 and 11.2971).

Supports and resistances

11.3690 **

11.3520 *

11.3350 **

11.3180

11.2783 last

11.2660

11.2550 **

11.2270 *

11.2100 **

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