CHF/NOK may fall to 11.4140 - 11.6840

Our pivot point is at 12.6480.

Our preference

Target 11.4140.

Alternative scenario

The upside breakout of 12.6480, would call for 13.1040 and 13.3750.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (12.4252) but above its 50 period moving average (12.0585).

Supports and resistances

13.3750 **

13.1040 *

12.6480 **

12.4690

12.2788 last

11.6840

11.4140 **

11.1440 *

10.8750 **

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