EUR/SEK may fall 387 - 557 pips

Our pivot point stands at 11.3890.

Our preference

Eye 11.3110.

Alternative scenario

The upside breakout of 11.3890, would call for 11.4170 and 11.4330.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is below its 20 period moving average (11.3711) but above its 50 period moving average (11.3616).

Supports and resistances

11.4330 **

11.4170 *

11.3890 **

11.3780

11.3667 last

11.3280

11.3110 **

11.2950 *

11.2790 **

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