CHF/NOK may rise 697 - 977 pips

Our pivot point stands at 12.5120.

Our preference

The upside prevails as long as 12.5120 is support.

Alternative scenario

Below 12.5120, expect 12.4650 and 12.4370.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 12.5569 and 12.5382).

Supports and resistances

12.7450 **

12.7170 *

12.6890 **

12.6610

12.5913 last

12.5300

12.5120 **

12.4650 *

12.4370 **

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