EUR/SEK may fall 467 - 697 pips

Our pivot point stands at 11.5320.

Our preference

The downside prevails as long as 11.5320 is resistance.

Alternative scenario

The upside breakout of 11.5320, would call for 11.5710 and 11.5930.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.5086 and 11.5065).

Supports and resistances

11.5930 **

11.5710 *

11.5320 **

11.5170

11.4947 last

11.4480

11.4250 **

11.4020 *

11.3790 **

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