CHF/NOK may rise 807 - 1197 pips

Our pivot point stands at 12.2230.

Our preference

The upside prevails as long as 12.2230 is support.

Alternative scenario

Below 12.2230, expect 12.1570 and 12.1180.

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 12.2559 and 12.2554).

Supports and resistances

12.4780 **

12.4390 *

12.4000 **

12.3610

12.2803 last

12.2490

12.2230 **

12.1570 *

12.1180 **

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