CHF/NOK may rise 360 - 540 pips

Our pivot point is at 11.6700.

Our preference

Rebound.

Alternative scenario

Below 11.6700, expect 11.6400 and 11.6230.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (11.6990) but below its 50 period moving average (11.7087).

Supports and resistances

11.7930 **

11.7760 *

11.7580 **

11.7400

11.7040 last

11.6820

11.6700 **

11.6400 *

11.6230 **

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