EUR/SEK may fall to 11.0370 - 11.1550

Our pivot point stands at 11.5850.

Our preference

The downside prevails as long as 11.5850 is resistance.

Alternative scenario

The upside breakout of 11.5850, would call for 11.7840 and 11.9020.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.4881 and 11.4629).

Supports and resistances

11.9020 **

11.7840 *

11.5850 **

11.5070

11.3970 last

11.1550

11.0370 **

10.9190 *

10.8010 **

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