CHF/NOK may fall to 11.3630 - 11.4860

Our pivot point stands at 11.9360.

Our preference

The downside prevails as long as 11.9360 is resistance.

Alternative scenario

The upside breakout of 11.9360, would call for 12.1430 and 12.2670.

Comment

The RSI is below 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 11.9518 and 11.9574).

Supports and resistances

12.2670 **

12.1430 *

11.9360 **

11.8550

11.7356 last

11.4860

11.3630 **

11.2400 *

11.1170 **

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