CHF/NOK may fall 823 - 1183 pips

Our pivot point is at 12.4600.

Our preference

The downside prevails as long as 12.4600 is resistance.

Alternative scenario

Above 12.4600, look for 12.5200 and 12.5550.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 12.4137 and 12.4252).

Supports and resistances

12.5550 **

12.5200 *

12.4600 **

12.4360

12.4093 last

12.3270

12.2910 **

12.2550 *

12.2200 **

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