EUR/SEK may rise 433 - 603 pips

Our pivot point stands at 11.2300.

Our preference

Rebound towards 11.3150.

Alternative scenario

Below 11.2300, expect 11.2020 and 11.1850.

Comment

The RSI is below 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 11.2597 and 11.2655).

Supports and resistances

11.3490 **

11.3320 *

11.3150 **

11.2980

11.2547 last

11.2420

11.2300 **

11.2020 *

11.1850 **

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