CHF/SEK may fall 446 - 616 pips

11.67 is our pivot point.

Our preference

The downside prevails as long as 11.67 is resistance.

Alternative scenario

Above 11.67, look for 11.70 and 11.71.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.66 and 11.66).

Supports and resistances

11.71 **

11.70 *

11.67 **

11.66

11.65 last

11.60

11.58 **

11.57 *

11.55 **

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