EUR/SEK: Next potential supports located at 11.00 and 10.93/10.90 – SocGen
|Economists at Société Général analyze EUR/SEK outlook as the pair is fast approaching projections of 11.07.
Recent pivot high at 11.28/11.29 likely to provide resistance
EUR/SEK has staged the expected downtrend after breaking below the lower limit of its multi-month range near 11.40.
Daily MACD is within deep negative territory denoting an overstretched down move. This does not highlight a trend reversal, but an initial bounce can’t be ruled out.
The recent pivot high at 11.28/11.29 is likely to provide resistance.
Below 11.07, the next potential supports are located at 11.00 and 10.93/10.90, the 50% retracement from 2021.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.