CHF/NOK may rise 710 - 1060 pips

Our pivot point stands at 12.2750.

Our preference

The upside prevails as long as 12.2750 is support.

Alternative scenario

Below 12.2750, expect 12.2150 and 12.1800.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.3287 and 12.3405).

Supports and resistances

12.5320 **

12.4970 *

12.4610 **

12.4260

12.3550 last

12.2980

12.2750 **

12.2150 *

12.1800 **

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