CHF/SEK may rise 530 - 780 pips

Our pivot point is at 12.11.

Our preference

Our next up target stands at 12.22.

Alternative scenario

Below 12.11, expect 12.07 and 12.04.

Comment

The RSI is above 50. The MACD is above its signal line and negative. 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 12.14 and 12.14).

Supports and resistances

12.27 **

12.25 *

12.22 **

12.20

12.14 last

12.12

12.11 **

12.07 *

12.04 **

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