CHF/SEK may rise 388 - 578 pips

12.12 is our pivot point.

Our preference

As long as 12.12 is support look for 12.21.

Alternative scenario

The downside breakout of 12.12 would call for 12.09 and 12.07.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 12.14 and 12.12).

Supports and resistances

12.25 **

12.23 *

12.21 **

12.19

12.15 last

12.13

12.12 **

12.09 *

12.07 **

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