CHF/SEK may rise 452 - 672 pips

Our pivot point stands at 12.28.

Our preference

Rebound.

Alternative scenario

Below 12.28, expect 12.24 and 12.22.

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 its 20 period moving average (12.32) but under its 50 period moving average (12.37). Finally, the CHF/SEK has crossed above its upper Bollinger band (12.34).

Supports and resistances

12.46 **

12.44 *

12.42 **

12.40

12.35 last

12.29

12.28 **

12.24 *

12.22 **

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