EUR/SEK may fall 266 - 376 pips

Our pivot point is at 11.4290.

Our preference

The downside prevails as long as 11.4290 is resistance.

Alternative scenario

Above 11.4290, look for 11.4480 and 11.4600.

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 11.4159 and 11.4200).

Supports and resistances

11.4600 **

11.4480 *

11.4290 **

11.4210

11.4116 last

11.3850

11.3740 **

11.3620 *

11.3500 **

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