CHF/SEK may fall 483 - 713 pips

Our pivot point is at 11.84.

Our preference

As long as 11.84 is resistance look for 11.74.

Alternative scenario

The upside breakout of 11.84, would call for 11.88 and 11.91.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands above its 20 period moving average (11.81) but below its 50 period moving average (11.81).

Supports and resistances

11.91 **

11.88 *

11.84 **

11.83

11.81 last

11.76

11.74 **

11.72 *

11.69 **

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