CHF/NOK may rise 578 - 848 pips

11.6990 is our pivot point.

Our preference

As long as 11.6990 is support look for 11.8340.

Alternative scenario

Below 11.6990, expect 11.6530 and 11.6250.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.7421 and 11.7373).

Supports and resistances

11.8890 **

11.8620 *

11.8340 **

11.8070

11.7492 last

11.7170

11.6990 **

11.6530 *

11.6250 **

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