CHF/SEK may rise 405 - 595 pips

Our pivot point stands at 12.16.

Our preference

The upside prevails as long as 12.16 is support.

Alternative scenario

Below 12.16, expect 12.13 and 12.11.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.17 and 12.17). Finally, the CHF/SEK has crossed above its upper Bollinger band (12.19).

Supports and resistances

12.30 **

12.28 *

12.26 **

12.24

12.20 last

12.17

12.16 **

12.13 *

12.11 **

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