EUR/SEK may fall to 11.2320 - 11.3530

Our pivot point stands at 11.7820.

Our preference

Target 11.2320.

Alternative scenario

The upside breakout of 11.7820, would call for 11.9850 and 12.1060.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (11.6690) but above its 50 period moving average (11.5604).

Supports and resistances

12.1060 **

11.9850 *

11.7820 **

11.7020

11.6021 last

11.3530

11.2320 **

11.1110 *

10.9910 **

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