EUR/SEK may fall 360 - 520 pips

11.2220 is our pivot point.

Our preference

The downside prevails as long as 11.2220 is resistance.

Alternative scenario

The upside breakout of 11.2220, would call for 11.2490 and 11.2660.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.2040 and 11.2155).

Supports and resistances

11.2660 **

11.2490 *

11.2220 **

11.2110

11.1980 last

11.1620

11.1460 **

11.1300 *

11.1140 **

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