CHF/NOK may fall to 11.2400 - 11.4270

Our pivot point is at 12.0840.

Our preference

The downside prevails as long as 12.0840 is resistance.

Alternative scenario

Above 12.0840, look for 12.3990 and 12.5860.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.8527 and 11.8334).

Supports and resistances

12.5860 **

12.3990 *

12.0840 **

11.9600

11.8148 last

11.4270

11.2400 **

11.0530 *

10.8670 **

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