EUR/SEK may fall 381 - 551 pips

Our pivot point is at 11.2360.

Our preference

Under pressure below 11.2360.

Alternative scenario

Above 11.2360, look for 11.2640 and 11.2810.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.2322 and 11.2176). Finally, the EUR/SEK has penetrated its lower Bollinger band (11.2133).

Supports and resistances

11.2810 **

11.2640 *

11.2360 **

11.2250

11.2121 last

11.1740

11.1570 **

11.1400 *

11.1240 **

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