CHF/NOK may rise 376 - 556 pips

Our pivot point stands at 12.0260.

Our preference

Rebound towards 12.1190.

Alternative scenario

Below 12.0260, expect 11.9950 and 11.9770.

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 stands above its 20 period moving average (12.0620) but below its 50 period moving average (12.0773).

Supports and resistances

12.1560 **

12.1370 *

12.1190 **

12.1010

12.0634 last

12.0380

12.0260 **

11.9950 *

11.9770 **

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