EUR/SEK may fall 330 - 490 pips

11.6300 is our pivot point.

Our preference

Under pressure below 11.6300.

Alternative scenario

Above 11.6300, look for 11.6560 and 11.6710.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.6154 and 11.6157).

Supports and resistances

11.6710 **

11.6560 *

11.6300 **

11.6190

11.6090 last

11.5760

11.5600 **

11.5450 *

11.5290 **

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