EUR/SEK may fall 341 - 481 pips

Our pivot point stands at 11.3810.

Our preference

The downside prevails as long as 11.3810 is resistance.

Alternative scenario

The upside breakout of 11.3810, would call for 11.4050 and 11.4190.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.3721 and 11.3877).

Supports and resistances

11.4190 **

11.4050 *

11.3810 **

11.3720

11.3601 last

11.3260

11.3120 **

11.2980 *

11.2830 **

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