EUR/SEK may fall to 11.0230 - 11.1360

11.5360 is our pivot point.

Our preference

The downside prevails as long as 11.5360 is resistance.

Alternative scenario

Above 11.5360, look for 11.7260 and 11.8400.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.5027 and 11.5733).

Supports and resistances

11.8400 **

11.7260 *

11.5360 **

11.4610

11.3678 last

11.1360

11.0230 **

10.9100 *

10.7970 **

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