CHF/SEK may fall 516 - 776 pips

Our pivot point stands at 12.08.

Our preference

As long as 12.08 is resistance look for 11.95.

Alternative scenario

Above 12.08, look for 12.12 and 12.14.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 12.03 and 12.03).

Supports and resistances

12.14 **

12.12 *

12.08 **

12.06

12.02 last

11.97

11.95 **

11.92 *

11.90 **

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