Published: 2025-03-06T08:43:10.000Z
Chart EUR/SEK Update: Extending steep losses
Technical Analyst
2
Break of the February low at 11.1000 further extend steep losses from the 11.5350, January year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 11.2000 | ** | congestion, 28 Feb high | S1 | 10.9300 | * | 50% 2021/2023 rally | |
| R3 | 11.1400 | * | Jun low | S2 | 10.9000 | ** | congestion, Mar 2022 high | |
| R2 | 11.1000 | * | congestion | S3 | 10.8000 | ** | congestion, Jul 2022 high | |
| R1 | 11.0000 | * | 2023 year low | S4 | 10.6800 | * | Nov 2022 low, 61.8% |
Asterisk denotes strength of level
08:35 GMT - Break of the February low at 11.1000 further extend steep losses from the 11.5350, January year high. Losses through the 11.0000 level has seen extension to reach the 10.9300, 50% Fibonacci level. Lower still will see scope to strong support at the 10.9000/10.8000 congestion. Deep oversold daily and weekly studies caution corrective bounce with resistance lowered to the 11.0000 figure and 2023 year low. Would need lift over this to open up room for stronger bounce to the 11.1000 congestion then the 11.1300/11.1400, March/June 2024 lows.