EUR/SEK may fall 374 - 534 pips

Our pivot point stands at 11.3140.

Our preference

The downside prevails as long as 11.3140 is resistance.

Alternative scenario

The upside breakout of 11.3140, would call for 11.3420 and 11.3580.

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 11.3069 and 11.3108).

Supports and resistances

11.3580 **

11.3420 *

11.3140 **

11.3040

11.2924 last

11.2550

11.2390 **

11.2220 *

11.2060 **

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