CHF/NOK may rise to 12.4480 - 12.6130

11.8420 is our pivot point.

Our preference

The upside prevails as long as 11.8420 is support.

Alternative scenario

Below 11.8420, expect 11.5670 and 11.4030.

Comment

The RSI is above its neutrality area at 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 11.8686 and 11.8315). Finally, the CHF/NOK has crossed above its upper Bollinger band (12.0743).

Supports and resistances

12.9430 **

12.7780 *

12.6130 **

12.4480

12.1039 last

11.9510

11.8420 **

11.5670 *

11.4030 **

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