CHF/SEK may rise 375 - 565 pips

Our pivot point is at 11.66.

Our preference

The upside prevails as long as 11.66 is support.

Alternative scenario

The downside breakout of 11.66 would call for 11.62 and 11.61.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.64 and 11.64). Finally, the CHF/SEK is trading above its upper Bollinger band (standing at 11.68).

Supports and resistances

11.79 **

11.77 *

11.75 **

11.73

11.69 last

11.67

11.66 **

11.62 *

11.61 **

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