EUR/SEK may fall 415 - 605 pips

Our pivot point stands at 11.5080.

Our preference

Technical rebound towards 11.5080 before a new drop.

Alternative scenario

The upside breakout of 11.5080, would call for 11.5400 and 11.5590.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (11.4757) but under its 50 period moving average (11.4798).

Supports and resistances

11.5590 **

11.5400 *

11.5080 **

11.4960

11.4795 last

11.4380

11.4190 **

11.4000 *

11.3810 **

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