CHF/NOK may rise to 12.9980 - 13.2470

12.0920 is our pivot point.

Our preference

As long as 12.0920 is support look for 13.2470.

Alternative scenario

The downside breakout of 12.0920 would call for 11.6770 and 11.4300.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (12.4739) but above its 50 period moving average (12.1198).

Supports and resistances

13.7440 **

13.4950 *

13.2470 **

12.9980

12.4409 last

12.2550

12.0920 **

11.6770 *

11.4300 **

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