CHF/NOK may fall to 11.2210 - 11.4130

12.0920 is our pivot point.

Our preference

Under pressure below 12.0920.

Alternative scenario

Above 12.0920, look for 12.4150 and 12.6080.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.8848 and 11.8619).

Supports and resistances

12.6080 **

12.4150 *

12.0920 **

11.9650

11.8193 last

11.4130

11.2210 **

11.0290 *

10.8380 **

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