CHF/NOK may rise to 12.8300 - 13.0280

12.1070 is our pivot point.

Our preference

The upside prevails as long as 12.1070 is support.

Alternative scenario

The downside breakout of 12.1070 would call for 11.7750 and 11.5780.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.0363 and 11.9160).

Supports and resistances

13.4250 **

13.2260 *

13.0280 **

12.8300

12.3845 last

12.2370

12.1070 **

11.7750 *

11.5780 **

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