CHF/SEK may rise 591 - 851 pips

Our pivot point is at 11.79.

Our preference

As long as 11.79 is support look for 11.92.

Alternative scenario

The downside breakout of 11.79 would call for 11.75 and 11.72.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (11.83) but above its 50 period moving average (11.82).

Supports and resistances

11.97 **

11.94 *

11.92 **

11.89

11.83 last

11.81

11.79 **

11.75 *

11.72 **

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