CHF/SEK may rise 413 - 613 pips

Our pivot point stands at 11.69.

Our preference

Our next up target stands at 11.79.

Alternative scenario

The downside breakout of 11.69 would call for 11.65 and 11.63.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.72 and 11.73).

Supports and resistances

11.83 **

11.81 *

11.79 **

11.77

11.73 last

11.70

11.69 **

11.65 *

11.63 **

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