EUR/SEK may fall to 10.8400 - 11.0210

Our pivot point stands at 11.6790.

Our preference

Under pressure below 11.6790.

Alternative scenario

Above 11.6790, look for 11.9850 and 12.1670.

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 trading under both its 20 and 50 period moving average (respectively at 11.5682 and 11.4458).

Supports and resistances

12.1670 **

11.9850 *

11.6790 **

11.5590

11.3941 last

11.0210

10.8400 **

10.6590 *

10.4770 **

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