EUR/SEK may fall to 10.9120 - 11.0300

11.4490 is our pivot point.

Our preference

The downside prevails as long as 11.4490 is resistance.

Alternative scenario

Above 11.4490, look for 11.6470 and 11.7650.

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 trading under both its 20 and 50 period moving average (respectively at 11.4784 and 11.5661).

Supports and resistances

11.7650 **

11.6470 *

11.4490 **

11.3720

11.2885 last

11.0300

10.9120 **

10.7950 *

10.6770 **

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