CHF/NOK may rise 648 - 898 pips

Our pivot point is at 12.2510.

Our preference

As long as 12.2510 is support look for 12.3730.

Alternative scenario

Below 12.2510, expect 12.2110 and 12.1870.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 12.2806 and 12.2643).

Supports and resistances

12.4210 **

12.3970 *

12.3730 **

12.3480

12.2832 last

12.2670

12.2510 **

12.2110 *

12.1870 **

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