EUR/SEK may fall to 11.1410 - 11.2610

Our pivot point is at 11.6770.

Our preference

Target 11.1410.

Alternative scenario

Above 11.6770, look for 11.8790 and 11.9980.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (11.5776) but above its 50 period moving average (11.4514).

Supports and resistances

11.9980 **

11.8790 *

11.6770 **

11.5980

11.5068 last

11.2610

11.1410 **

11.0220 *

10.9020 **

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