CHF/NOK may rise 614 - 854 pips

Our pivot point stands at 12.1140.

Our preference

The upside prevails as long as 12.1140 is support.

Alternative scenario

Below 12.1140, expect 12.0740 and 12.0500.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.1338 and 12.1278).

Supports and resistances

12.2780 **

12.2550 *

12.2310 **

12.2070

12.1456 last

12.1290

12.1140 **

12.0740 *

12.0500 **

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