CHF/NOK may rise 874 - 1274 pips

Our pivot point stands at 12.5320.

Our preference

Rebound towards 12.7120.

Alternative scenario

Below 12.5320, expect 12.4660 and 12.4260.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 12.5925 and 12.6146).

Supports and resistances

12.7910 **

12.7510 *

12.7120 **

12.6720

12.5846 last

12.5580

12.5320 **

12.4660 *

12.4260 **

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