EUR/SEK may fall to 11.0110 - 11.1690

Our pivot point stands at 11.7240.

Our preference

Target 11.0110.

Alternative scenario

The upside breakout of 11.7240, would call for 11.9900 and 12.1480.

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 price is below its 20 period moving average (11.5585) but above its 50 period moving average (11.4548).

Supports and resistances

12.1480 **

11.9900 *

11.7240 **

11.6200

11.5072 last

11.1690

11.0110 **

10.8540 *

10.6960 **

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