EURSEK 1W: triangle breakdown - bearish retest in play

On the weekly chart, EURSEK completed a symmetrical triangle pattern followed by a clean breakdown. The recent bullish move is now testing the 0.705–0.79 Fibo zone ($11.29–11.20), which aligns with the lower boundary of the former consolidation and 200 EMA resistance. So far, the price fails to break and hold above — suggesting a bearish continuation is likely.

Technical outlook:

• Symmetrical triangle broke downward
  
• Price is retesting Fibo zone 0.705–0.79
  
• Strong resistance near 11.29
  
• EMA200 adds overhead pressure
  
• Next downside target: 1.618 Fibo at 10.38
  

From a macro perspective, the Swedish krona is holding better due to domestic rate expectations, while the euro may weaken further if the ECB pauses tightening. If the trend holds, EURSEK could break 11.00 and head toward 10.38 in the coming weeks.

When structure and fundamentals align - markets tend to follow.