CHF/NOK may rise 624 - 904 pips

Our pivot point is at 12.4640.

Our preference

Rebound towards 12.5960.

Alternative scenario

The downside breakout of 12.4640 would call for 12.4180 and 12.3900.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 12.5058 and 12.5414).

Supports and resistances

12.6520 **

12.6240 *

12.5960 **

12.5680

12.5056 last

12.4830

12.4640 **

12.4180 *

12.3900 **

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