EUR/SEK may rise 423 - 583 pips

11.2240 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 11.2240, expect 11.1960 and 11.1800.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (11.2430) but under its 50 period moving average (11.2590).

Supports and resistances

11.3380 **

11.3220 *

11.3050 **

11.2890

11.2467 last

11.2340

11.2240 **

11.1960 *

11.1800 **

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