CHF/SEK may rise 443 - 653 pips

Our pivot point stands at 12.14.

Our preference

As long as 12.14 is support look for 12.23.

Alternative scenario

Below 12.14, expect 12.11 and 12.08.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (12.17) but above its 50 period moving average (12.16).

Supports and resistances

12.28 **

12.26 *

12.23 **

12.21

12.17 last

12.16

12.14 **

12.11 *

12.08 **

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