EUR/SEK Technical Analysis: Further decline expected after breaking below the 200-day SMA

The cross is down for yet another session today and is extending the leg lower following last week’s breakdown of the critical support at the 200-day SMA, today at 10.3390.
That said, a deeper retracement remains well on the cards with the initial support in November’s low at 10.2080 (November 13), all ahead of the key support around 10.2000.
A break below 10.2000 should pave the way for the continuation of the down move to the 10.1000 area, or June’s low.

Pablo Piovano FXStreet

EUR/SEK daily chart

EUR/SEK

Overview:
    Today Last Price: 10.2285
    Today Daily change: -37 pips
    Today Daily change %: -0.0362%
    Today Daily Open: 10.2322
Trends:
    Previous Daily SMA20: 10.2899
    Previous Daily SMA50: 10.3394
    Previous Daily SMA100: 10.385
    Previous Daily SMA200: 10.334
Levels:
    Previous Daily High: 10.2972
    Previous Daily Low: 10.231
    Previous Weekly High: 10.3495
    Previous Weekly Low: 10.2471
    Previous Monthly High: 10.394
    Previous Monthly Low: 10.2101
    Previous Daily Fibonacci 38.2%: 10.2563
    Previous Daily Fibonacci 61.8%: 10.2719
    Previous Daily Pivot Point S1: 10.2097
    Previous Daily Pivot Point S2: 10.1872
    Previous Daily Pivot Point S3: 10.1435
    Previous Daily Pivot Point R1: 10.276
    Previous Daily Pivot Point R2: 10.3197
    Previous Daily Pivot Point R3: 10.3422

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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