CHF/NOK may rise 792 - 1192 pips

Our pivot point is at 12.3730.

Our preference

As long as 12.3730 is support look for 12.5540.

Alternative scenario

Below 12.3730, expect 12.3060 and 12.2670.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 12.4259 and 12.4172).

Supports and resistances

12.6330 **

12.5930 *

12.5540 **

12.5140

12.4348 last

12.3990

12.3730 **

12.3060 *

12.2670 **

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