EUR/SEK may fall to 11.1630 - 11.2670

11.6650 is our pivot point.

Our preference

The downside prevails as long as 11.6650 is resistance.

Alternative scenario

The upside breakout of 11.6650, would call for 11.8410 and 11.9460.

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 11.6350 and 11.5885). Finally, the EUR/SEK has penetrated its lower Bollinger band (11.5124).

Supports and resistances

11.9460 **

11.8410 *

11.6650 **

11.5960

11.4951 last

11.2670

11.1630 **

11.0590 *

10.9550 **

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