EUR/SEK may fall 322 - 482 pips

Our pivot point stands at 11.7350.

Our preference

The downside prevails as long as 11.7350 is resistance.

Alternative scenario

Above 11.7350, look for 11.7620 and 11.7770.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.7187 and 11.7197).

Supports and resistances

11.7770 **

11.7620 *

11.7350 **

11.7250

11.7132 last

11.6810

11.6650 **

11.6490 *

11.6340 **

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