EUR/SEK may fall 513 - 753 pips

Our pivot point stands at 11.4290.

Our preference

The downside prevails as long as 11.4290 is resistance.

Alternative scenario

Above 11.4290, look for 11.4690 and 11.4920.

Comment

The RSI is below 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 11.3977 and 11.3994).

Supports and resistances

11.4920 **

11.4690 *

11.4290 **

11.4130

11.3923 last

11.3410

11.3170 **

11.2930 *

11.2700 **

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