CHF/SEK may rise to 12.1050 - 12.2840

Our pivot point is at 11.47.

Our preference

Rebound towards 12.28.

Alternative scenario

The downside breakout of 11.47 would call for 11.17 and 10.99.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (11.71) but under its 50 period moving average (11.80).

Supports and resistances

12.64 **

12.46 *

12.28 **

12.11

11.71 last

11.58

11.47 **

11.17 *

10.99 **

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